The Olympic rings are displayed at Odaiba in Tokyo. Photo: AP file
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All 68 domestic Tokyo Olympic sponsors agree to new contracts

20 Comments
By STEPHEN WADE

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20 Comments
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Bottom line, sponsors are putting up what, less than 10% of the actually costs, so we the taxpayer will be asked, told, to bend over and take it some more!

At least they get something in return! Most of us wont even get a peck on the cheek!

14 ( +16 / -2 )

when will countries realize that unless you are a travel or lodging company the Olympics do not help your economy nor the local population at all....

13 ( +16 / -3 )

They’ve invested so much so far, so they have to put up even more money just so the previous investment won’t be wasted. A typical case of the sunk cost fallacy.

12 ( +13 / -1 )

Toshiro Muto, the CEO of the organizing committee, said Dentsu had conducted the negotiations.

"It's not that we went through negotiations to force the companies to invest," Muto said.

Mori also said the companies were not "pushed."

Mori acknowledged that many companies were facing tough financial times. It's also clear that the Tokyo Olympics have become a priority for Japan's national government, which would make it difficult for companies not to renew.

I think the gentelmen doth protest too much.

"There was no pushing, forcing,coercion, promises of public funded subsides and kickbacks or threats to withold the tax payer funded bailout scheme gravy train?!"

"Why would you ever think that?"

10 ( +11 / -1 )

It's not that we went through negotiations to force the companies to invest,

Of course, not.

Mori also said the companies were not "pushed."

I literally saw his nose growing while he said this.

9 ( +9 / -0 )

Money that could have been well spent on tax deductible donations for the needy during these times. The crass idiocy disgusts me. Absolutely no sense of priorities.

9 ( +10 / -1 )

Money that could have been well spent on tax deductible donations for the needy during these times. The crass idiocy disgusts me. Absolutely no sense of priorities.

They had no choice. Big business and government are so closely tied together in Japan that they had no option not signing up originally, and no option not renewing.

The more telling picture will be told by how many non-Japanese companies renew, which have no such pressures and can have their priorities realigned.

8 ( +8 / -0 )

Zoroto, I guess you refer to the 14 global sponsors. At least 2 of them will not renew after their contracts end in 2020 although they will get a one year extension of their returns from the IOC. Paris has a very hard time finding local sponsors as it is harder to blackmail companies into sponsorships.

What global sponsors are starting to realise is that they are actually buying negative returns on investment with the IOC now that global public perception becomes ever more negative . But more Chinese companies will step up to try and buy influence. If, they will still have the money.

7 ( +7 / -0 )

"...unless you are a travel or lodging company the Olympics do not help your economy "

Actually, Nagano 98 dealt a blow to travel and lodging companies as well. The region's domestic regular visitors stayed away that season, leading to falling business. Quite a few others went to Niseko instead and never returned.

5 ( +5 / -0 )

As expected, not a single word about sports and not even only that single word ‘sports’ itself. lol

5 ( +5 / -0 )

out of sense or reality.

Olympics are not needed at all in recent situation,not at least even in 2021.

hey Mori wake up

5 ( +5 / -0 )

Throwing more good money after bad.

This whole thing is a disgrace.

5 ( +5 / -0 )

Japan has contained COVID-19 better than most countries

No, it has not. Look at any charts. Japan is factually has not contained COVID-19 better than "most" countries, not alone among its peer in Asia.

4 ( +6 / -2 )

you Want Olympic it’s already available if you own a Nintendo switch lol. Mario & Sonic at the Olympic Games Tokyo 2020 is a 2019 sports video game based on the 2020 Summer Olympics which still never really happened.

4 ( +5 / -1 )

I wonder how much these "sponsors" are or are going to secretly get from the govt. on the side.

If not any then there're 68 suckers born every minute.

4 ( +5 / -1 )

I'd like to see a list of these companies, then I'd know who what families are propping up both the Olympics and LDP, bet the same names are on that list, and on the trail of tax money's same family members. It's so obvious but shoooooo can't say that?

4 ( +4 / -0 )

All fine and dandy, but I notice international sponsors aren't champing at the bit to pay for the Coronalympics.

4 ( +5 / -1 )

But more Chinese companies will step up to try and buy influence. If, they will still have the money.

I am not sure if it is about the lack of money, though. It's the optics, and the fact of throwing good money after bad is not palatable to stockholders. But you are right, maybe Chinese companies don't care about these things.

3 ( +3 / -0 )

Sponsors can pay all they like, but tax-payers do not want to give another yen.

2 ( +3 / -1 )

I assume many countries will be more worried with having their economies back on track, even though vaccination is well on the way by next summer (Japan included). Not just a ray of hope, it's a real big torch for suppliers, lenders, appliers at sales points and so forth, like Olympics in the winner's scheme as well. But nothing more the pandemic takes more time and other steps to defeat it.

0 ( +0 / -0 )

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