The International Olympic Committee has strengthened its TOP sponsor roster after losing several key partners by extending its partnership with insurance giant Allianz to 2032.
The extension will see Allianz hold its top-tier Worldwide Olympic Partner designation until after the Brisbane 2032 Games. Its original contract, which started in 2021, was due to end after the LA 2028 Olympics. GlobalData has valued the original deal as worth $50 million annually.
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The deal also includes an extension with the International Paralympic Committee for another four years to cover the Brisbane 2032 Paralympic Games.
The IOC has said the extension will see Allianz continue to manage risks, provide protection for organizers, participants, and spectators, and support athletes through mentoring and career opportunities at both the Olympic and Paralympic Games.
Allianz chief executive Oliver Bate said: “The Olympic and Paralympic Games Paris 2024 inspired the world as well as our employees, customers, and business partners, elevating and uniting people through sport. We also saw very positive benefits for our business and the Allianz brand.
“We are therefore delighted – particularly against the backdrop of an increasingly divided world – to extend this successful partnership through 2032 and continue our support for the unifying spirit of the Olympic and Paralympic Movements.”
The extensions mean that, in all, Allianz’ sponsorship will now cover four upcoming editions of the Olympics and Paralympics – the summer games in Los Angeles (2028) and Brisbane (2032), and the winter editions in Milan-Cortina (2026), and the French Alps (2030).
Allianz’ extension of its TOP IOC sponsorship comes as the governing body shores up its portfolio having lost three Japanese heavyweights – Toyota, Bridgestone, and Panasonic – after their deals expired following the Paris games last year.
The Olympics organizer has since added Chinese television and consumer electronics manufacturer TCL to its portfolio to partly fill the void left by Panasonic, which let its deal expire after 37 years.
Panasonic’s last contract with the IOC, running through the 2017-24 cycle, was valued by GlobalData Sport at $320 million overall.
The Olympic body also announced an extension of its deal with drink giant AB InBev to run until 2032, last month.
Other ‘TOP’ IOC commercial partners, meanwhile, include Airbnb, Alibaba, Atos, Coca-Cola, Deloitte, Intel, Omega, P&G, Samsung, and Visa.
During the last Olympic cycle, the 15 TOP partners contributed around 30% of the Swiss body’s total income.
Thomas Bach, the outgoing IOC president, commented: “Allianz is a world leader in its industry and believes in the Olympic vision of building a better world through sport, and supports our commitment to athletes around the world.
“Now more than ever the world needs the power of sports to unite people. The IOC and Allianz share this vision and this is why we consider our partnership more important than ever.”
The new deal comes a week before IOC members cast their ballots to elect Bach’s successor, with the UK’s Lord Sebastian Coe seen as a leading contender.
Allianz, meanwhile, has a strong presence in sport sponsorship, holding stadium naming rights for venues in London (UK), Munich (Germany), Turin (Italy), Nice (France), Sydney (Australia), and Minnesota (the US).
Early February saw the insurance giant expand its partnership with the Olympic Federation of Ireland (OFI) and Paralympics Ireland bodies.
