U.S. fast-food giant McDonald's has ended its 41-year-long Olympic Games sponsorship deal three years early, the International Olympic Committee said on Friday.
McDonald's, a sponsor since 1976 and part of the IOC's top sponsors program that contributes more than $1 billion in every four-year cycle for the Games, had a contract running through the 2020 Tokyo summer Olympics.
"In today's rapidly evolving business landscape, we understand that McDonald's is looking to focus on different business priorities," Timmo Lumme, managing director of IOC Television and Marketing Services, said in a statement.
Financial terms of the separation were not disclosed.
While it is unusual for an Olympic sponsor to leave early, sponsors change regularly within the IOC's top program. The most recent addition was China's Alibaba, which signed a deal in January for a partnership through 2028.
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http://www.cnbc.com/2017/06/16/mcdonalds-ends-olympics-sponsorship-deal-early.html
