IOC 'set for Allianz boost' as Paris 2024 lands first sponsor
Allianz, the German insurance powerhouse, is reported to be joining the elite group of TOP sponsors of the International Olympic Committee, in a deal that will run for eight years starting in 2021.
If and when confirmed, the agreement will cover the 2022 winter Olympic Games in PyeongChang, the 2024 Olympics in Paris, the as-yet unallocated 2026 winter Olympics, and the 2028 Olympics in Los Angeles.
Paris 2024 today announced its first domestic sponsor in Groupe BPCE, the French banking group.
Allianz will be the fifth new worldwide Olympic partner since 2014 and plans to use its association with the games to demonstrate its digital transformation and attract younger customers, including via the IOC’s social media channels and the Olympic Channel, according to Sports Business Daily.
The IOC and Allianz have so far declined to comment on the report.
The IOC has not had a major sponsor in the insurance category since the withdrawal of Canada-based ManuLife after the Beijing 2008 Olympics.
A TOP sponsorship deal, which could be worth up to $200 million over a four-year cycle, would entail an extension of Allianz’s global partnership with the International Paralympic Committee, which dates back to 2006.
This is the result of a renewal of the co-operation agreement between the IOC and the IPC under which, from 2021, all top-tier Olympics sponsors will also have rights to the Paralympics, albeit there remains scope for Paralympics-only partners.
Allianz already enjoys widespread recognition in soccer, notably through its naming rights deals with Bayern Munich’s Allianz Arena and Juventus’ Allianz Stadium.
In July, Visa, the international credit card firm, extended its worldwide partnership with the IOC, and by implication the IPC, until 2032.
Of the 13 current TOP sponsors, six are signed up until 2020 (Atos, Coca-Cola, Dow, General Electric, Procter & Gamble and Samsung), four to 2024 (Bridgestone, Intel, Panasonic and Toyota), one to 2028 (Alibaba) and two to 2032 (Omega and Visa).
At present, Visa is one of five TOP sponsors that is also a worldwide partner of the Paralympics (the others being Atos, Panasonic, Samsung and Toyota).
The IOC’s revenue from the TOP sponsorship programme totalled $1.02 billion in the 2013-16 cycle, an increase of 7.6 per cent on the previous quadrennial.
A healthy increase is expected in the current cycle, with the addition of Bridgestone, Toyota, Alibaba and Intel in deals more than compensating for the withdrawal of long-running partner McDonald’s.
The sponsors are likely to welcome the platform provided by Olympics staged in large markets in the shape of China, France and USA.
Paris 2024 It emerged this week that the Paris 2024 organising committee had received the green light from the IOC to proceed with its domestic sponsorship sales programme, and Groupe BPCE is on board as the inaugural ‘premium partner’.
The group comprising Banque Populaire, Caisse d'Epargne, Banque Palatine and Natixis can start activating its partnership at the start of 2019, and will have rights to France’s national Olympic and Paralympic teams.
The value of the deal has not been disclosed, but it has been claimed that the organisers have targeted at least €60 million ($70.2 million) from domestic top-tier sponsors.
The premium partners, of which there could be up to 12, will be supported by second-tier ‘official partners’ and third-tier ‘official supporters’.
Groupe BPCE has been a supporter of French sport for more than three decades and last year extended its sponsorship agreement with the CNOSF, the French national Olympic committee, until 2020, the year of the next Olympics in Tokyo.
BPCE has been a partner of the CNOSF since 2010.