The International Olympic Committee (IOC) and the U.S. Olympic Committee (USOC) finally reached a new revenue-sharing agreement that ends years of international resentment harbored toward the USOC while it allows the USOC to lift its self-imposed freeze on bidding for future Games, a move it enacted after the 2016 Chicago bid fiasco.
For decades the USOC has received the biggest slice of the Olympic dollars paid by corporate sponsors and U.S. television networks, an arrangement the rest of the Olympic community has resented, and, in turn, one that has contributed to keeping the Olympics out of the U.S. in past years. The new deal, which will begin in 2020, mends this rocky relationship by reducing USOC shares of The Olympic Partner Program (TOP) sponsorship revenues and U.S. television rights. The USOC has also agreed to contribute to the IOC’s administrative costs.
Without a Games held in the U.S. since the 2002 Winter Games, the U.S. could be in the Olympic spotlight again in the near future. As the majority of TOP sponsors come from US corporations — Procter & Gamble, McDonald’s, Coca-Cola, General Electric, Dow Chemical Company, and VISA, to name just a few — this should be considered good news for future olympic sponsorship campaigns.