Toyota Olympic Sponsorship "Game Changing"

(ATR) Toyota has put pen to paper on a worldwide Olympic sponsorship deal worth a reported $835 million.

The car maker becomes the IOC’s 12th TOP sponsor, in the mobility categor, which includes vehicles, mobility services and mobility solutions. It's the third Japanese company to become a worldwide Olympic sponsor after Panasonic and Bridgestone.

The deal runs through 2024. It will cover the three Olympics in Asia after Rio 2016 – PyeongChang 2018, Tokyo 2020 and the 2022 Games in Almaty or Beijing – as well as the 2024 host to be chosen in two years’ time.

IOC president Thomas Bach was in Tokyo on Friday for the signing ceremony with Toyota president Akio Toyoda. Also in attendance were chairman of the IOC's marketing commission Tsunekazu Takeda, who is a Japanese IOC member, and Tokyo 2020 president Yoshiro Mori.

In line with the IOC’s Agenda 2020 reforms, with sustainability as one of its key pillars, Toyota will work with the organizing committees "to provide sustainable mobility solutions for the Games to help with safer, more efficient mobility, including intelligent transport systems, urban traffic systems and vehicle-to-vehicle communications systems".

Bach described it as a "very symbolic day" for the IOC.

"It is the first time in the successful history of the TOP program that we have had a mobility category," he said.

"It is in the spirit of the Olympic Agenda 2020 not just in terms of innovation but also in terms of sustainability in mobility. Toyota is the world leader in its field and this partnership signifies a strong commitment to the future of the IOC and the Olympic Movement. Toyota and the IOC share the same values and we welcome Toyota Motor Corporation to the Olympic family," he said.

As part of the deal, Toyota will also support the entire Olympic Movement through funding and a global promotional reach, the IOC said. The TOP program supports NOCs and OCOGs.

"The IOC redistributes more than 90 per cent of its income to the wider sporting movement, which means that every day the equivalent of $3.25 million goes to help athletes and sports organisations at all levels around the world," the IOC’s release said.

Toyota will also bring expertise to Tokyo 2020 organisers under the leadership of Mori.

"The excellent collaboration between the IOC and Tokyo 2020 has already resulted in savings of $1 billion from the revised construction budget, following the IOC’s approval of three venue changes to the master plan for the Games," said the IOC statement.

IOC marketing chief Takeda, who is also a VP Tokyo 2020 committee, said the agreement was "a powerful indication of the strength of the Olympic brand globally".

"Long-term partnerships are the backbone of our commercial programs and they enable the financial security of the entire Olympic Movement," he added.

Toyota is the third IOC TOP sponsor to commit through 2024. The carmaker officially joins the TOP program in 2017 but will have marketing rights in Japan with immediate effect. The agreement covers all Toyota brands within the category, including Toyota, Lexus and Scion.

Former IOC marketing director Michael Payne described the Toyota deal as a "sponsorship game changer".

He noted on Twitter that the Toyota TOP deal locks Korean car giant Hyundai out of a major PyeongChang 2018 sponsorship.

"If US wins rights to 2024 Olympics with Boston – US car industry now locked out, with Toyota as TOP worldwide partner. Rules changing," he added.

Reported by Mark Bisson

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