Governing Bodies
DESPITE TOKYO 2020 POSTPONEMENT, LONG-TERM SPONSORS PLEDGE TO STAND BY OLYMPICS
Major corporate sponsors of the Tokyo 2020 Olympics are standing by the International Olympic Committee (IOC) after the Games were postponed and experts familiar with the deals said the companies would not likely seek the return of billions of dollars committed to the agreements.
Fourteen global companies including Coca-Cola Co, Procter & Gamble Co and Intel Corp spent US$500 million (S$725 million) this year and have committed close to US$4 billion on multi-year contracts that designate them as top-tier sponsors, according to research firm Global Data.
On Tuesday (March 24), the Tokyo Games were postponed to 2021, a first in the 124-year modern history of the event, due to the coronavirus pandemicwhich has prompted governments to shut businesses globally.
After the announcement, four major sponsors, Procter & Gamble, Intel, Airbnb and Coca-Cola, reaffirmed their commitment to the Games. Bridgestone Corp will seek “creative solutions” in a delay, it told Reuters ahead of the announcement.
“As the longest standing sponsor of the Olympic Games, we remain committed to working together with the IOC and TOCOG (Tokyo Organising Committee) to create a successful and safe event,” said a Coca-Cola spokesman.
Despite the severe financial toll on the sponsors, the companies generally consider themselves long-term partners of the IOC.
“No doubt, the IOC and Japan are working hand-in-hand with those 14 sponsors,” said Jason Karlov, a partner at law firm Barnes & Thornburg, who has worked on previous IOC sponsor deals. “They keep the Olympic movement functioning and thriving.”Beyond the Olympics, the pandemic has forced the cancellation of nearly every national and regional sporting event in the coming months. Lawyers involved in those deals said many corporate sponsors, often smaller companies hard hit by the outbreak, are trying to back out and get their money back.
However, even if a company wanted its Olympic sponsorship money returned, it is unlikely the deal with the IOC allows it, according to those lawyers familiar with the deals.
The sponsorship dollars are crucial to the operations of the IOC, which is a non-profit organisation funded primarily by broadcast rights and revenue from top sponsors. The companies generally pay a portion of the total contract upfront when they sign and the remainder is paid in installments over the length of the agreement.
Reuters did not view the sponsorship contracts, but those familiar with the deals said every contract differs and the delay of the Tokyo Games may not necessarily trigger any obligation for the IOC.
Some sponsorship deals might require the IOC to provide “make good” compensation to its sponsors for a postponement of one year or more, lawyers said.
Make goods might include product placements for manufacturers of consumer goods, promotional footage or “meet and greet” events during the Olympics, said Eric Bergner, a lawyer for Manatt, Phelps & Phillips in New York.
Even with sweeteners, some companies may find it difficult to remain in long-term pricey contracts as the spread of coronavirus takes a huge toll on the global economy, one senior media executive said. “Nothing is off the table.”
McDonald’s Corp pulled out of its long-term Olympics sponsorship in 2017 when the restaurant chain was overhauling operations and cutting costs.
“I think it is definitely a possibility that some sponsors may seek to terminate their sponsorship entirely, based on overriding hardships,” said James Johnston, a partner at law firm Davis and Gilbert, which represents a current top IOC sponsor.
Michael Lynch, a partner at sports marketing company 3 Emerald Marketing, said the IOC likely will work with sponsors even if it is not required to.
“The IOC has an obligation to respect the integrity and spirit of the agreements, which was delivering a Winter and Summer Games within a four-year period,” said Lynch, who has worked on Olympic sponsorship deals, including 17 years with Visa Inc.
“The last thing the IOC will do is be at odds with the commercial organisations that partner to fund these Games,” he said.
Governing Bodies
Sanusi set for record-extending tenure as Nigeria’s football politicians assemble in Asaba
BY KUNLE SOLAJA.
Speculations gathered ahead of the 2024 Annual General Meeting of the Nigeria Football Federation holding in Asaba on Friday have it that tenure elongation for the General Secretary, Dr. Mohammed Sanusi, is a major item on the agenda.
Neither formal confirmation nor denial has been issued since one of the leading newspapers in Nigeria, ThisDay dropped the hint.
The agenda of the meeting is also not made public. Dr, Sanusi is the longest-serving General Secretary in history having been in office from 30 March 2015 making 3,476 days or nine years six months and four days.
It easily drowned that of his closest rival in tenure – Sani Toro whose tenure from 21 December 1993 to 3 May 1999 is merely 2020 days or five years, six months and 12 days.
Thus, no one had enjoyed a longer period in office than the incumbent, Dr. Mohammed Sanusi. It is speculated that the tenure will be extended as NFF has reported that all delegates have arrived in the Delta State capital by Thursday evening.
The NFF Annual General Assembly, the first of which took place 90 years ago in Lagos on 19 February 1934, is the biggest assemblage of football administrators and stakeholders in the country.
In one such meeting on 24 July 2008 in Makurdi, the football body changed its name from NFA to NFF.
This year, according to a press release by the NFF, the plenary will have in attendance, the chairmen and secretaries of football associations in the 36 States and the Federal Capital Territory, chairmen and secretaries of the Nigeria Premier Football League, Nigeria National League, Nigeria Women Football League and the Nationwide League One, as well as chairmen and secretaries of the referees’ association, players’ union and coaches’ association. This group of 88 makes up the Congress.
They are joined by the members of the NFF Executive Committee and the management team as well as former NFF Presidents and General Secretaries.
The Minister of Sports Development, John Owan Enoh, is announced as the special guest. Nigeria’s Member of the FIFA Council, Amaju Melvin Pinnick is also expected as well as a representative of the West African Football Union (WAFU B).
The Governor of Delta State, Sheriff Francis Oborevwori will declare the General Assembly open.
Venue is the Unity Hall of the Delta State Government House.
Governing Bodies
Like in Egypt, former Nigerian Olympian, Sadiq Abdulahi wants Tinubu to declare ‘State of Emergency’ in Sports
Former Nigerian tennis player and Olympian, Prof. Sadiq Abdulahi has called for drastic action to arrest the decline of Nigeria in global sporting events.
The former tennis player who is now a professor in the United States declared that the “failure to win a medal at the regular 2024 Paris Olympics, the few medals at the Paris Paralympic and the fallout at the National Youth Sports Festival has exposed the deep problems facing the sport’s sector.”
He wants Nigeria to have the same approach that the Egyptian president has taken while reacting to the country’s performance at the Paris 2024 Olypics.
Egypt’s President Abdel-Fattah al-Sisi ordered a comprehensive evaluation of sports federations that participated at the Paris Olympic Games, following a mission report submitted by the country’s sports minister.
According to Prof. Abdulahi, the National Sports Federations charged with the preparation of elite athletes have failed to do their job despite the cry for funding from the government.
“Federal Government cannot adequately fund all the Olympics sports. It is impossible.
“By declaring a state of emergency, new people, new approaches and new funding models will be identified. More importantly, the Federal Government will redefine grassroots sports development.
“We will lay sustainable foundation for sports development.”
Continuing, he called for the return of the National Sports Commission (NSC) which enabling decree was abolished through Decree No. 7 of 1991, but came back through presidential proclamation under Sani Abacha before it was abolished again.
The original NSC was established in 1964 as National Sports Council before the promulgation of Decree 34 of 1971 which legalised it as the apex Federal Government agency to control, regulate and organize sports.
“The FG may now bring back the National Sports Commission or the National Sports Authority. Our emerging national economy with the full participation of the private sector can support this new beginning. I hope this helps.”
RELATED STORY: President Al-Sisi orders sports system overhaul
Governing Bodies
CAF gives Yoruba and Arabic interpretations of ‘OLA’ the Super Cup 2024 Official Match Ball
The Confédération African of Football, CAF, has given the linguistics interpretation of OLA, the confederation’s official match balls produced by Puma which has also unveiled a special edition for the Super Cup duel holding on Friday in Saudi Arabia.
According to CAF, OLA, symbolizing the dynamic and energetic nature of African football, means “wealth,” “honour,” and “respect” in Yoruba and “rise” and “success” in Arabic.
The OLA ball stands out with its vibrant design and cultural significance. “OLA”
The ball is a mix of black and gold, representing power and sophistication. The ball will be the centrepiece of the eagerly-awaited match between the two giants of African football.
NFF Communication director unfolds 20 Points of a 20-hour ordeal on Libyan soil
African football legends, Adebayor and Aubameyang condemn Libya’s treatment of Super Eagles
BREAKING! CAF wades into the Libya-Nigeria Airport episode
Breaking! Uzoho suspended from Super Eagles’ next match with Sierra Leone
No longer Super League as CAF changes name of its new clubs competition
AIU releases its report on Tobi Amusan
-
Uncategorized1 week ago
Players boycott Libyan national team
-
AFCON4 days ago
Billiat’s penalty seals Zimbabwe’s 1-0 win over Namibia
-
AFCON1 week ago
Eguavoen unfolds Super Eagles’ squad for back-to-back duel with Libya
-
AFCON6 days ago
Facts & Figures as AFCON 2025 qualifiers enter Matchday 3
-
AFCON6 days ago
AFCON 2025 in Morocco: Everything you need to know
-
AFCON5 days ago
Libya’s captain, Faisal Al-Badri alleges poor treatment in Nigeria
-
Uncategorized7 days ago
CAF compels Kwasi Appiah to step down from Ghana FA
-
Uncategorized1 week ago
Fastest World Cup final scorer is dead!