What's buzzing:

Olympics-Samsung extends deal as Olympics top sponsor to 2020

Reuters

BERLIN, Aug 17 (Reuters) - South Korea's Samsung has extended its top sponsorship contract as an Olympics worldwide partner to 2020, the International Olympic Committee (IOC) said on Sunday.

Samsung, who first signed up as a top sponsor with the IOC in 1998 and was a local sponsor at the 1988 Seoul Olympics as well, will support all Games up until and including Tokyo 2020.

"We are delighted to be able to continue our partnership with Samsung," said IOC President Thomas Bach in a statement.

"The funding generated by the TOP Programme directly supports the staging of every Olympic Games, as well as every one of the National Olympic Committees, enabling athletes from all over the world to prepare for and compete at each Games."

The 2016 summer Games will be held in Rio de Janeiro while the 2018 winter Olympics will be staged in South Korea's Pyeongchang.

Although it does not reveal contract details of its sponsorship agreements, the deals with its top sponsors generate an estimated 100 million per quadrennium.

Other major sponsors, including McDonald's, Coca-Cola, Panasonic and Atos have signed up until 2020 or beyond. (Reporting by Karolos Grohmann; editing Sudipto Ganguly)

View Comments (0)
  • IOC says Tokyo's preparation 'outstanding', costs need watching

    IOC says Tokyo's preparation 'outstanding', costs need watching

    By Elaine Lies TOKYO (Reuters) - The cost of venues for the Tokyo 2020 Summer Olympics will have to be carefully watched and managed despite previous cuts, but otherwise the Japanese capital's preparations are "outstanding," IOC Vice President John … More »

    Reuters - 4 minutes 20 seconds ago
  • Japan's Nishikori pulls out of Wimbledon with calf strain

    Japan's Nishikori pulls out of Wimbledon with calf strain

    LONDON (Reuters) - Japanese fifth seed Kei Nishikori pulled out of Wimbledon before his second round match on Wednesday after failing to recover from a calf strain. "It's the same injury, it got better before the first match. I thought it would be … More »

    Reuters - 5 minutes ago
  • Tennis-Japan's Nishikori pulls out of Wimbledon with calf strain

    LONDON, July 1 (Reuters) - Japanese fifth seed Kei Nishikori pulled out of Wimbledon before his second round match on Wednesday after failing to recover from a calf strain. "It's the same injury, it got better before the first match. I thought it … More »

    Reuters - 9 minutes ago
  • Porto sell Martinez to Atletico, buy Imbula from Marseille

    Porto agreed to sell their Colombia striker Jackson Martinez to Atletico Madrid while agreeing a deal to sign France Under-21 international Giannelli Imbula from Olympique Marseille on the opening day of the summer transfer window on Wednesday. … More »

    Reuters - 12 minutes ago
  • New signing Cech believes Arsenal ready to win league title

    New signing Cech believes Arsenal ready to win league title

    Goalkeeper Petr Cech believes Arsenal are ready to clear the final hurdle needed to end the Premier League title drought, and said he was overwhelmed by the support he has received from fans and teammates at his new club. Cech, the most successful … More »

    Reuters - 29 minutes ago