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from Part III - Signs, Images and Designs
Published online by Cambridge University Press: 16 March 2023
Money spent globally on sports sponsorship is expected to rise to 90 billion USD by 2027.1 This is not surprising, as during the 2018 FIFA World Cup alone, FIFA’s sponsorship deals may have generated 1.65 billion USD.2 For the four-year cycle comprising of the PyeongChang Winter Games 2018 and the Tokyo Olympics 2020, corporations had shelled out around 300 million USD each to get the privilege of being International Olympic Committee’s (hereinafter IOC) global sponsors and using the Olympic marks and imagery for promoting their brands all over the world.3 The sponsorship contribution of the IOC’s top 14 global sponsors alone was in the vicinity of 2 billion USD for the four-year cycle and this is in addition to the money raised through TV contracts and other sponsors. In the four-year cycle from 2021–24, the IOC also aims to raise 3 billion USD through sponsorship deals.4 Evidently, sports events, such as the Olympics, are big business and sponsors often play a pivotal role in taking key decisions relating to sports events.5
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