Head Topics

In coronavirus-hit world, sponsors to stand by delayed Olympics

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

South Africa Headlines News

Major corporate sponsors of the Tokyo 2020 Olympics are standing by the International Olympic Committee after the Games were postponed and experts familiar with the deals said the companies would not likely seek the return of billions of dollars committed to the agreements.

Reuters did not view the sponsorship contracts, but those familiar with the deals said every contract differs and the delay of the Tokyo games may not necessarily trigger any obligation for the IOC.

Make goods might include product placements for manufacturers of consumer goods, promotional footage or"meet and greet" events during the Olympics, said Eric Bergner, a lawyer for Manatt, Phelps & Phillips in New York. "I think it is definitely a possibility that some sponsors may seek to terminate their sponsorship entirely, based on overriding hardships," said James Johnston, a partner at law firm Davis and Gilbert, which represents a current top IOC sponsor.Michael Lynch, a partner at sports marketing company 3 Emerald Marketing, said the IOC likely will work with sponsors even if it is not required to.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

World Athletics chief Sebastian Coe calls for Olympics postponementThe Tokyo Olympic Games are not feasible at their current July starting date because of the coronavirus pandemic and must be delayed, World Athletics president said on Sunday.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Stellenbosch council offers payment holiday to hardest-hit ratepayersRatepayers in Stellenbosch who can prove that their income has been hit by the coronavirus crisis will get a three-month rates holiday, councillors decided at an emergency meeting on Wednesday.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Pandemics: A social justice issue - The Mail & GuardianTo repeatedly launch into wartime mode is reactive. Viewing pandemics through a social justice lens is much more constructive and enduring – even beyond these challenging coronavirus times, writes AyeshaJacub. AyeshaJacub Framing it as a security threat IS the only possible approach in SA given the levels of crime and inequality in the country Do you think the people in the informal settlements and townships won't riot/protest in two weeks when the money and food ran out? Please park the wokeness
Source: mailandguardian - 🏆 2. / 92 Read more »

WATCH | Julius Malema carrying a child on his back during self-isolation: 'Stay at home cadres'He is spending quality time with family, but it's not glamorous at all. It's as real as many parents know it can be. No news here, go bark another tree So it isnot glamorous to spend quality time with family? Ruri rea gafelwa mo moss. Says who? Quarantine time
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Prince Charles tests positive for coronavirusThe 71-year-old royal has experienced 'mild symptoms' of the respiratory disease but is in 'good health'. IOL_Lifestyle IOL News (IOL) March 25, 2020 via 24liveblog
Source: IOL - 🏆 46. / 51 Read more »

Prince Charles tests positive for coronavirusPrince Charles and Camilla are self-isolating at their home in Scotland after the prince tested positive for the coronavirus
Source: Channel24 - 🏆 48. / 51 Read more »