Chinese e-commerce giant Alibaba becomes major Olympic Games sponsor until 2028
Company joins partner worldwide sponsorship programme concerning official e-commerce and cloud services for summer and winter editions of the global showpiece
Chinese e-commerce company Alibaba has become a major sponsor of the Olympic Games after signing a deal with the International Olympic Committee that runs until 2028, the two parties said on Thursday.
Alibaba becomes the official e-commerce and cloud services partner and joins 12 other companies, including Coca-Cola and McDonald’s, as top sponsors after joining The Olympic Partner (TOP) worldwide sponsorship programme.
No financial details were disclosed, but International Olympic Committee (IOC) sources have previously said that major sponsors pay around US$100 million per four-year cycle, which includes one summer and one winter Olympic Games.
The deal comes as Asia prepares to host three consecutive Olympic Games with South Korea’s Pyeongchang staging the 2018 winter edition, Tokyo the 2020 summer version and Beijing the 2022 winter showpiece.
The deal for Alibaba’s global activation rights also includes the summer and winter Olympic Games in 2024, 2026 and 2028 in cities yet to be selected by the IOC.