Image
Image

McDonald's Pulls Out of Olympics Sponsorship

McDonald's Corp ended its 41-year-old sponsorship of the Olympic Games three years early, the International Olympic Committee said on Friday, reflecting the U.S. fast-food giant's focus on its core business as well as rising Olympics sponsorship costs and declining TV ratings.

McDonald's deal would have run through the Tokyo Olympics in 2020, and bowing out will likely to save it hundreds of million of dollars if it had continued into the next four-year Olympics cycle and beyond.

McDonald's has been trying to hold down costs as it invests in improving food quality, restaurant service and online ordering to woo back U.S. diners. Intense competition has gnawed away at sales.

 

Read more at Reuters

Retweets:

Likes:

Comments