The International Olympic Committee has confirmed a worldwide top-tier partnership deal with Japanese tyre company Bridgestone.
The deal will run for 10 years, from 2014-15 to 2023-24, and will cover the 2020 summer Olympic Games in Tokyo, Japan. Other events covered by the deal include: the 2016 summer Games in Rio de Janeiro, Brazil; the 2018 winter Games in PyeongChang, South Korea; and the 2022 and 2024 winter and summer Olympics, which are yet to be awarded.
As reported by Sports Sponsorship Insider on May 27, Bridgestone is expected to pay a total of about $344m (€252m) over the course of the deal.
The product categories covered by the agreement include seismic isolation bearings, non-motorised bicycles, and the full range of tyres manufactured by Bridgestone.
The deal with Bridgestone is the first to be confirmed under the new chairmanship of the IOC’s marketing commission, Tsunekazu Takeda, who is also president of the Japanese Olympic Committee.
Bridgestone’s fellow Japanese company Panasonic in February became one of two TOP sponsors to extend their deals with the IOC.