International Olympic Committee or IOC announced a unique partnership with global beverage giant, Coca-Cola and Chinese dairy producer, Mengniu.
The multi-year partnership will be validated for 12 years till 2032. The combined worth of deal is 3 billion dollars. According to London-based newspaper Financial Times, this is probably the biggest tie-up in history sports till date.
The deal which has confirmed ahead of a vote to decide the host of the 2026 Olympic, will bring Coca-Cola’s association with the Olympics Games to 104 years, maintaining the US company’s status as the longest continuous partner of the multi-sport event.
The president of IOC, Thomas Bach said, “This long-term agreement is another demonstration of the relevance and stability of the Olympic Games in these times of uncertainty. Having our longest-standing partner, Coca-Cola, in an American brand, together with a young Chinese company, Mengniu, joining hands under the roof of our worldwide TOP program is a great example of unifying power of the Olympic spirit.”
The chief executive of Coca-Cola company, James Quincey added, “A lot has changed since we first sold the first Coca-Cola at Olympic event in 1928. With a fresh approach to our business and to our sponsorship, we are proud to join with Mengniu to promote and celebrate Olympic games.”