Sponsors Bewildered by Proposed Postponement of Tokyo Games

Economy

Tokyo, March 24 (Jiji Press)--Many companies sponsoring the Tokyo Olympics and Paralympics this summer are puzzled by the International Olympic Committee's move to put off the Tokyo Games amid the novel coronavirus pandemic.

"It's an oh-no situation," an official of a manufacturer sponsoring the quadrennial international sporting events said, referring to the looming possibility of the games being held in next year.

In return for paying sponsorship contract fees, companies can take advantage of the games to promote their products and services and carry out promotional campaigns.

Tokyo Games sponsorship contracts will basically end on Dec. 31.

If the games are pushed back to 2021, or later, sponsors may have to throw away their goods and services with "Tokyo 2020" logos. In addition, chances cannot be ruled out that they will be required to pay additional contract fees.

[Copyright The Jiji Press, Ltd.]

Jiji Press