Toyota to pull out of Olympics sponsorship as it blasts ‘ineffectiveness’ of IOC

BrandsNews

Japanese car manufacturer Toyota is set to pull out of its £470million sponsorship deal with the Olympic Games citing its dissatisfaction with the International Olympic Committee (IOC).

The move will see Toyota cease its relationship with the Games after close to a decade, having first signed a blockbuster sponsorship contract with the event in 2015.

According to Campaign, the automotive giant is unhappy with how its sponsorship funds are being used by the IOC, calling out its alleged “ineffectiveness in supporting athletes and promoting sports”.


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Reports coming out of Japan suggest that Toyota will now look to find alternative ways of supporting the sporting industries, although it still hopes to retain its contract with the International Paralympic Committee.

This would appear to be unlikely as the IOC does not allow for sponsors to apply for singular contracts outside of the showpiece event. So far neither Toyota nor the IOC has commented on reports.

This latest controversy follows on from the brand’s decision not to air Olympic-themed ads on Japanese TV during the Covid-affected 2021 Games, due to their polarising nature within the country amid a continuing outbreak of the virus

BrandsNews

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