Tokyo 2020 exceeds forecast sponsorship revenues with over two years to go
By Callum Murray in PyeongChang
With more than two years to go until it hosts the Olympic Games, Tokyo 2020, the organising committee, has already exceeded the figure of $2.9 billion for local sponsorship revenue that it forecast that it would bring in, according to a figure cited by John Coates, chair of the International Olympic Committee’s co-ordination commission, during the IOC Session here in PyeongChang this morning.
Describing the local sponsorship programme as “extraordinarily successful, Coates said that organisers have so far raised a total of $2.91 billion. A spokesman for Tokyo 2020 later told Sportcal that, while there is “no concrete target” for local sponsorship, “we will keep our best efforts to maximise partnership revenue.”
The total has been most recently augmented by a deal unveiled this week with Hisamitsu Pharmaceutical, which becomes a second-tier ‘official partner’ in the category of external pain relief products.
There are now 15 top-tier gold partners, 30 official partners and three third-tier official supporters.
In December, Tokyo 2020 unveiled a revised budget that included Y150 billion ($1.4 billion) of savings versus the first version of the budget.
The budget was divided into an organising committee (OCOG) budget of $5.6 billion, and an ‘other entities’ budget of $7 billion, which will be covered by the Japanese and Tokyo metropolitan governments, adding up to $12.6 billion in all.
Tokyo 2020 said at the time: “In version two of the budget, forecasted OCOG revenues have increased by USD 0.9 billion (JPY 100 billion) thanks to record new sponsorship revenue of USD 2.9 billion (JPY 310 billion).
“Costs in the OCOG budget are expected to be covered without recourse to public funding as a result of contributions from the IOC, corporate sponsorship, ticket sales, licensing revenues and others. Tokyo 2020 will continue to look at ways of securing the additional USD 0.2 billion in revenue required to achieve budget balance.”
Any further sponsorship deals could help to secure that extra $200 million, described as “expected additional revenue” in the budget, the spokesman said.