McDonalds Ends 41-Year Long Sponsorship Deal With Olympic Games

The International Olympic Committee announced on Friday that it has ended its sponsorship deal with fast food king McDonald’s. The two had a relationship that lasted 41 years and the ending to it came three years earlier than expected.

The fast food giant has been a sponsor of the Olympics since 1976 and was a part of the committee’s top sponsors program with a contribution of over $1 billion in every four year-cycle when the games go on. The contact with McDonald’s had been supposed to go until the 2020 Tokyo summer Olympic games.

Timmo Lumme, managing director of IOC Television and Marketing Services, said in a statement, “In today’s rapidly evolving business landscape, we understand that McDonald’s is looking to focus on different business priorities.”
McDonald’s Global Chief Marketing Officer Silvia Lagnado explained the ending and said, “As part of our global growth plan, we are reconsidering all aspects of our business and have made this decision in cooperation with the IOC to focus on different priorities.”

Financial terms were not disclosed and the IOC said it was not planning a direct replacement for the company.

Disclaimer: We have no position in McDonald’s Corporation (NYSE: MCD) and have not been compensated for this article.