Intel Corp declared that it would become a major sponsor of the International Olympic Committee.
After the exit of McDonald’s sponsorship with Olympics, Intel’s new deal will stretch till 2024.
What’s the Deal??
The financial terms of the deal is yet to be disclosed by the company. But according to relivant sources major sponsors pay $100 million per four-year cycle. IOC has been looking forward to increase the amount of the deal.
Intel joins about a dozen global Olympics sponsors such as Coca-Cola Co, Samsung and most recently, Chinese e-commerce company Alibaba which signed on six months ago.
It’s main aim is to make Olympics more technologically sound and attract the younger generation of the crowd through making Olympic channel an internet-based TV network. According to IOC this will create new audience and fans all around and will also give new experience to athletes.
Marketing
Intel will provide 5G wireless technology, virtual reality, artificial intelligence platforms, and drones that could be used in aerial filming or light shows. This would make the whole event more catchy and accepttable by huge audience around the world
Intel is eyeing to expand its reach in Asia, which is preparing to host three consecutive Olympic Games. Pyeongchang in South Korea is staging the 2018 winter games, Tokyo the 2020 Summer Olympics and Beijing the 2022 Winter Olympics. The IOC is deciding between Paris and Los Angeles for the 2024 summer games.
