LONDON: The decision to postpone the Tokyo Olympics until 2021 will be welcomed by the sponsors who pay hundreds of millions to be associated with the event, British advertising veteran Martin Sorrell has told AFP.
"I have experienced several in my life, such as the oil slump of the 80s, the dotcom in 2001 and 2008."Q2 will be very difficult this year, Q3 less so and Q4 better, so there will be some signs of recovery by the time the Games come round."The IOC's former head of marketing, Michael Payne, dismisses the belief in some quarters that IOC chief Thomas Bach and the organisers' ultimate decision was beholden to the wishes of their respective commercial partners.
"The football leagues and Formula One are much more commercial entities even if the sums of money are much smaller," he said.Becoming a so-called TOP , does not come cheap. The Games in 2021 can be an amazing celebration of humanity and triumph provided the coronavirus is a thing of the past, sports marketing consultant Terrence Burns says.
"The IOC has already stated that sponsors of the Tokyo Games whose rights were set to expire this year will be extended through the Games next year," he said.
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