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Olympic sport of schmoozing eludes corporate sponsors

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NEW YORK (AP) — For corporate sponsors, there won’t be much schmoozing at this year’s Olympics in Tokyo, thanks to the pandemic.

The corporate sponsorship program has been a key part of the Olympic experience since it began in 1985. More than a dozen or so names like Coca-Cola and Proctor & Gamble pay millions of dollars in each four-year cycle on sponsorship and marketing programs that includes wining and dining athletes, top employees, key clients, and customers at Olympic events.

But even with a remote Tokyo Olympics, corporate sponsors still see a golden opportunity to market their brand with such trademark symbols as the torch, experts say.

 

Source: AP – All contents copyright 2021 Associated Press.  All rights reserved.

 

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