37 years of partnership. One of the main Olympic sponsors is ending its collaboration with the IOC
Steven Perez
Dailysports's expert
The International Olympic Committee has lost one of its major sponsors, with whom it has partnered for 37 years.
Details: Panasonic Holdings has announced its decision to end its collaboration with the IOC. According to the Daily Mail, this long-standing partnership, which began when the company was known as Matsushita Electric Industrial Co., Ltd., will conclude in December this year.
Since 1987, the company has played a crucial role in providing technology and equipment for the Olympic Games.
The termination of this contract was mutually agreed upon. Panasonic explains that the decision to discontinue the partnership is due to changes in its business environment and strategic direction.
The departure of such a sponsor will be significant for the International Olympic Committee. However, they have a robust sponsorship program, and there are companies eager to fill the void left by Panasonic.
Reminder: Dailysports editorial suggests checking out the top 10 athletes of the 2024 Olympics, which took place this summer in Paris.
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