Toyota To End Olympic Sponsorship After Paris Games

Vehicle manufacturer Toyota is set to end its massive sponsorship deal with the International Olympic Committee (IOC) after this year’s Paris Olympics, according to reports in Japan, Stephen Wade reported for the Associated Press (AP).

Toyota has a contract through the 2024 Paris Games, which was reported to be valued at $835 million when it was announced in 2015. I Photo: Kyodo

Toyota has a contract through the 2024 Paris Games, which was reported to be valued at $835 million when it was announced in 2015.

It included four Olympics, beginning with the Pyeongchang 2018 Winter Games in South Korea, and ran through Paris. It has been widely reported to be the IOC’s largest sponsorship deal.

Citing “sources close to the matter,” Japanese news agency Kyodo said Toyota was unhappy with the way sponsorship money was used by the IOC.

The news agency, quoting the sources, said the money was “not used effectively to support athletes and promote sports,” Yuri Kageyama also reported for AP.