GE Renews Olympics Sponsorship Through 2020
The International Olympic Committee (IOC) today announced that GE has elected to continue its TOP Partnership through to 2020. The deal, which comes only weeks after NBC secured the TV rights through 2020, will allow GE to retain exclusive rights to a wide range of different categories including: Energy Generation Systems, Energy Distribution Systems, Healthcare: Diagnostic Imaging, Monitoring and Electronic Medical Records Technology, Lighting Fixtures & Systems, Aircraft Engines, Rail Transportation, Water Treatment Facilities & Services, Equipment & Transportation Management.
In 2003, GE signed on as a sponsor of the 2010 and 2012 Olympics for approximately $200 million. Though deal figures weren't released, the new agreement is thought to be worth more than the previous deal.
“GE is a leading organisation, with innovation and sustainability at its core," IOC President Jacques Rogge said. "Over the years, GE has become a vital part of the efforts to deliver sustainably responsible Olympic Games. We are delighted to continue our work with them.”
“We are proud to be extending our partnership with the Olympic movement for another eight years,” remarked Jeff Immelt, Chairman and CEO, GE. “The Olympic Games provide a unique opportunity to showcase our innovative technologies and services. Hosting a successful Olympic Games is a transformational opportunity for every host city. We are committed to working with the IOC and the local Organizing Committees to deliver world-class infrastructure solutions and a sustainable legacy to future generations.”
Of the TOP partners; Coca-Cola, Dow, GE, Omega, P&G and Visa all have partnerships extending through 2020, while Atos Origin, Panasonic and Samsung run through 2016. Revenue generated from these partnerships is said to account for more than 40% of total Olympic revenues.