Fries over rings: McDonald’s ends 41-year Olympic sponsorship


McDonald's at the OlympicsMcDonald’s Corp ended its 41-year-old sponsorship of the Olympic Games three years early, the International Olympic Committee said on Friday, reflecting the U.S. fast-food giant’s focus on its core business as well as rising Olympics sponsorship costs and declining TV ratings. McDonald’s deal would have run through the Tokyo Olympics in 2020, and bowing out will likely to save it hundreds of million of dollars. McDonald’s has been trying to hold down costs as it invests in improving food quality, restaurant service and online ordering to woo back U.S. diners. While terms of Olympic sponsorship are not disclosed, a source who negotiated previous IOC sponsorship deals said that top global sponsors like McDonald’s spend about $100 million for a four-year period that includes a summer and winter games. Reuters previously reported that the IOC had wanted to roughly double fees to $200 million per four year period starting in 2021. More  Translate