It will continue to support the 2018 PyeongChang Games on a domestic basis
Fast food giant, McDonald's has ended its 41 year long Olympic Games sponsorship deal three years early, the International Olympic Committee.
The American fast-food giant had been contracted through the 2020 Tokyo Games, but has opted to end its contract early. It will continue to support the 2018 PyeongChang Games, but on a domestic, not global, basis. Sponsors bring an estimated $1 billion to the table for the IOC every four years, and McDonald’s had been a global sponsor since 1976.
Silvia Lagnado, Global Chief Marketing Officer, McDonald's, told Reuters, "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."
McDonald’s is in the midst of massive brand reorganization, reconfiguring strategy in favor of healthier options and in the face of strong competition.
Timmo Lumme, Managing Director, IOC Television and Marketing Services, said, "In today's rapidly evolving business landscape, we understand that McDonald's is looking to focus on different business priorities."
The IOC stated that it has no immediate plans to appoint a direct replacement in terms of a retail food sponsor, pending a broader review of marketing.