Key sponsor withdraws from ‘increasingly political’ Olympics
Toyota Chairman Akio Toyoda has announced that the company will not extend its sponsorship contract with the Olympics. Read Full Article at RT.com
TroibNews 
The Olympic sponsorship by Japanese automobile manufacturer Toyota will officially come to an end following the Paris Games, as announced by Chairman Akio Toyoda in a podcast shared on the company’s YouTube channel recently. Toyoda indicated that this summer’s Olympics revealed the event has turned “increasingly political.”
Toyota entered into a ten-year sponsorship agreement with the International Olympic Committee in 2015, reported to be valued at $835 million, making it the IOC's largest sponsorship deal at that time. The contract was meant to cover four Olympic Games, with the option for renewal in 2025. However, Toyoda expressed his growing disillusionment with the event, stating that it no longer prioritizes athletes.
“I’ve wondered for a while now whether the event is truly putting athletes first… It is also becoming increasingly political,” stated the chairman. He also mentioned, “the Olympics should simply be about watching athletes from all walks of life, with all types of challenges, achieve their impossible.”
Criticism surrounded the 2024 Olympic Games, marked by various scandals including an opening ceremony that many perceived as mocking Christianity and difficulties in the women’s boxing competition. While the IOC defended its approach, with outgoing president Thomas Bach praising the “gender parity” at the Games, some individuals at Toyota raised concerns over the management of sponsorship funds by the IOC, which they argued was not effectively supporting athletes or promoting sports. Furthermore, Toyota’s decision may be influenced by the backlash surrounding the Tokyo Olympics in 2020, which occurred during the peak of the Covid-19 pandemic, leading to significant criticism and the company halting Olympics-themed advertising on Japanese TV during that time.
According to the Japan Times, Toyota expressed a desire to maintain its sponsorship of the International Paralympic Committee, but the IOC reportedly insisted that the company sponsor either both the Olympics and Paralympics or neither.
Toyota is not alone in its decision to withdraw from IOC sponsorship. Panasonic, another Japanese firm that has been a sponsor since 1987, also announced its exit earlier this month, citing “management considerations” as the reason for its departure.
Navid Kalantari for TROIB News
Toyota entered into a ten-year sponsorship agreement with the International Olympic Committee in 2015, reported to be valued at $835 million, making it the IOC's largest sponsorship deal at that time. The contract was meant to cover four Olympic Games, with the option for renewal in 2025. However, Toyoda expressed his growing disillusionment with the event, stating that it no longer prioritizes athletes.
“I’ve wondered for a while now whether the event is truly putting athletes first… It is also becoming increasingly political,” stated the chairman. He also mentioned, “the Olympics should simply be about watching athletes from all walks of life, with all types of challenges, achieve their impossible.”
Criticism surrounded the 2024 Olympic Games, marked by various scandals including an opening ceremony that many perceived as mocking Christianity and difficulties in the women’s boxing competition. While the IOC defended its approach, with outgoing president Thomas Bach praising the “gender parity” at the Games, some individuals at Toyota raised concerns over the management of sponsorship funds by the IOC, which they argued was not effectively supporting athletes or promoting sports. Furthermore, Toyota’s decision may be influenced by the backlash surrounding the Tokyo Olympics in 2020, which occurred during the peak of the Covid-19 pandemic, leading to significant criticism and the company halting Olympics-themed advertising on Japanese TV during that time.
According to the Japan Times, Toyota expressed a desire to maintain its sponsorship of the International Paralympic Committee, but the IOC reportedly insisted that the company sponsor either both the Olympics and Paralympics or neither.
Toyota is not alone in its decision to withdraw from IOC sponsorship. Panasonic, another Japanese firm that has been a sponsor since 1987, also announced its exit earlier this month, citing “management considerations” as the reason for its departure.
Navid Kalantari for TROIB News
