The deal between Procter & Gamble (P&G) and the International Olympic Committee (IOC) has been extended until 2028.
The 2020 edition of the games earlier slated for Tokyo, Japan next month was shifted to next year following the outbreak of COVID-19.
In a statement some days ago, the parties said in a first-of-its-kind citizenship-driven partnership, actions would be taken to make progress in key areas like equality and inclusion, environmental sustainability and community impact.
There would be the establishment of Athletes for Good Fund to grant support for athlete causes that are advancing important work against shared values.
It is believed that this extension affirms P&G’s commitment to the Olympic and Paralympic Movements, with a confirmation.
Building upon the success of the last 10 years of partnership and the values shared by both organisations to improve lives and create a better world, P&G and the IOC will work together through Los Angeles 2028.
For the first time, P&G has also secured global marketing rights to the International Paralympic Committee (IPC) and Paralympic Games through the IOC-IPC long-term collaboration agreement, under which the IOC oversees the IPC and Paralympic Games commercial programmes.
“As a TOP Partner of the IOC for the past 10 years, we are extremely proud of the work we’ve done together,” said P&G Chief Brand Officer, Mr Marc Pritchard. “As we look forward to the next decade, we recognise the opportunity and the responsibility to use our sponsorship of the Olympic Games for broader impact.”
“In the spirit of the Olympic Movement, we’re making a shared commitment through our partnership to create positive change in the world in the areas of equality and inclusion, environmental sustainability and community impact.
“We will use each of the next four games as a milestone to measure progress and leave a meaningful legacy behind,” Mr Pritchard added.
IOC President Thomas Bach said: “Procter & Gamble has been a true partner to the IOC and a powerful force in supporting the ideals of the Olympic Movement.
“As we mark one year to go until the Olympic Games Tokyo 2020, we are delighted to announce that we will be stronger together with P&G until 2028. Looking to the future, we have prioritised clear purpose-led initiatives that support the IOC’s vision of building a better world through sport.”
As a global partner, P&G will continue to support the Olympic and Paralympic Games Tokyo 2020, as well as the Olympic and Paralympic Winter Games Beijing 2022, the Olympic and Paralympic Games Paris 2024, the Olympic and Paralympic Winter Games Milano-Cortina 2026, and the Olympic and Paralympic Games Los Angeles 2028.