Entries in Visa (1)

Tuesday
Oct272009

Visa Recharges Deal With IOC Through 2020

October 27, 2009: The International Olympic Committee has signed its second long-term extension marketing deal in as many months, unveiling a new alliance with Visa Inc. that would extend the financial firm's sponsorship of the Games for another eight years. Financial terms were not disclosed.

Visa's former deal was set to expire following the 2012 Summer Games in London, but the company now will remain the exclusive payment sponsor for the 2014 Olympic Winter Games in Sochi, Russia; the 2016 Summer Games in Rio de Janeiro, Brazil; and the 2018 Olympic Winter Games and 2020 Olympic Summer Games.

Omega extended its alliance with the IOC in September. Visa, which has been an IOC partner since 1986, joins Omega and Coca-Cola as the only current IOC "worldwide partners" with deals that run through 2020.  Atos Origin, Panasonic and Samsung have extended their partnerships until 2016. General Electric, McDonald's and Samsung have contracts with the IOC that each currently run through 2012.

According to Visa, the new contract will enable the financial company "to deliver additional benefits to clients and their cardholders with expanded point-of-sale presence, exclusive acceptance programs for Olympic-related transactions and increased access to unique experiences for Visa clients to offer to their customers through Visa marketing programs." Visa also retains exclusive category rights to all 205 National Olympic Committees and their Olympic teams around the world.  These rights include advertising and promotional use of Olympic marks and imagery from the Olympic Games as well as marks from the National and International Olympic Committees.

The renewal was unveiled during a formal contract signing ceremony in Moscow, Russia, attended by Visa Inc. group president Rupert Keeley and IOC president Jacques Rogge.

“The Olympic Games deliver tremendous global exposure and access to virtually every demographic group,” Antonio Lucio, CMO for Visa Inc., said after the signing ceremony. “The Olympic Games also deliver tangible and proven business building benefits to Visa, its clients and partners. Client activation around the Beijing 2008 Olympic Games, which involved more than 573 clients in 41 countries, illustrates the universal appeal of this marquee property.”

According to Gerhard Heiberg, chairman of the IOC marketing commission, "The staging of the Olympic Games, as well as the operations of the Olympic Movement as a whole, would not be possible without the support of our TOP Partners, and we are delighted that Visa will continue to be a key partner for the Olympic Movement. As an organization, Visa is a leader not only in the world of global payment technology, but also in its support for sports events and athletes around the world.”

Lucio said Visa was already looking at 2016 while keeping its focus on 2010 and 2012. “With efforts in support of the Vancouver Winter Olympic Games already underway, and London 2012 well into our planning stages, we are particularly excited about the opportunities that the Sochi 2014 Olympic Winter Games will provide. We look forward to working with partners in Russia , the Sochi Organizing Committee and the IOC to further build on our Olympic legacy and make the Sochi 2014 Olympic Winter Games a global success.

“During the early days of our Olympic sponsorship, we focused on promoting our exclusive acceptance at the Games," Lucio added. "Today, we utilize the sponsorship platform to promote the advantages of using Visa instead of cash and check and to facilitate the development and advancement of the payment infrastructure in Olympic host countries."

Omega Times IOC Deal To Run Through 2020

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