See You At ITEXPO & The #TechSuperShow | February 11-14, 2020 | Fort Lauderdale, Florida REGISTER TODAY.
SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

Johnson & Johnson out as Olympic sponsor
[November 17, 2008]

Johnson & Johnson out as Olympic sponsor


(Associated Press WorldStream Via Acquire Media NewsEdge) NEW YORK_Johnson & Johnson won't be renewing its lucrative global sponsorship deal with the International Olympic Committee.

The IOC confirmed Monday that the health care conglomerate would not renew its top-level sponsorship worth up to $100 million, after the news was first reported by Sports Business Journal.

"The IOC is proud to have worked in a successful partnership with Johnson & Johnson for both the (Turin) 2006 and Beijing 2008 Olympic Games," IOC spokeswoman Emmanuelle Moreau said.

Johnson & Johnson's deal for 2005-08 was worth between $60 million and $80 million, and Sports Business Journal said the IOC would have gotten $100 million in its renewal over four years. That would have helped the committee achieve its goal of $1 billion for The Olympic Partnership program, or TOP, running from 2009-12.



Now the IOC needs to find another top-level sponsor in Johnson & Johnson's category as official health care products provider.

A Johnson & Johnson representative did not return a call seeking comment.


Olympic TV and sponsorship revenues for the 2005-08 cycle _ covering the Turin Winter Games and Beijing Olympics _ totaled about $3.5 billion.

Twelve companies signed up for the 2005-08 global sponsorship program generating nearly $900 million in revenues. TV rights fees, with the largest chunk from U.S. network NBC, provided the other $2.6 billion.

Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

[ Back To TMCnet.com's Homepage ]









Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2020 Technology Marketing Corporation. All rights reserved | Privacy Policy