Top Olympic Sponsor Panasonic is Ending its Contract with IOC

This photo shows the headquarters of Panasonic in Kadoma, Osaka prefecture, western Japan, on Nov. 7, 2017. (Kyodo News via AP)
This photo shows the headquarters of Panasonic in Kadoma, Osaka prefecture, western Japan, on Nov. 7, 2017. (Kyodo News via AP)
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Top Olympic Sponsor Panasonic is Ending its Contract with IOC

This photo shows the headquarters of Panasonic in Kadoma, Osaka prefecture, western Japan, on Nov. 7, 2017. (Kyodo News via AP)
This photo shows the headquarters of Panasonic in Kadoma, Osaka prefecture, western Japan, on Nov. 7, 2017. (Kyodo News via AP)

Olympic sponsor Panasonic is terminating its contract with the IOC at the end of the year, the company said in a statement Tuesday.
Panasonic is one of 15 companies that are so-called TOP sponsors for the International Olympic Committee. It's not known the value of the Panasonic sponsorship, but sponsors contribute more than $2 billion in a four-year cycle to the IOC.
In a statement, Panasonic said it became an IOC sponsor in 1987 and expanded to the Paralympics in 2014. It did not make clear why it was changing course and said only that it was related to continual “reviews how sponsorship should evolve,” The Associated Press reported.
Two other Japanese companies are also among the IOC's 15 leading sponsors. Toyota, which for several months has been reportedly ready to end its contract, was contacted Tuesday by AP but offered no new information.
“Toyota has been supporting the Olympic and Paralympic movements since 2015 and continues to do so,” Toyota said in a statement. “No announcement to suggest otherwise has been made by Toyota."
Japanese sponsors seem to have turned away from the Olympics, likely related to the one-year delay in holding the 2020 Tokyo Olympics. The COVID-19 delay reduced sponsors' visibility with no fans allowed to attend competition venues, ran up the costs, and unearthed myriad corruption scandals around the Games.
Tiremaker Bridgestone told AP “nothing has been decided.”
Toyota had a contract valued at $835 million — reported to be the IOC's largest when it was announced in 2015. It included four Olympics beginning with the Pyeongchang 2018 Winter Games in South Korea and ran through the just-completed Paris Olympics and Paralympics.
Reports in Japan suggest Toyota may keep its Paralympic Olympic sponsorship.
The IOC TOP sponsors are: ABInBev, Airbnb, Alibaba, Allianz, Atos, Bridgestone, Coca-Cola, Deloitte, Intel, Omega, Panasonic, P&G, Samsung, Toyoto, and Visa.



Bundesliga Sees Quickfire Scoring Record as Bayern Puts Dive Past Dismal Leipzig

Bayern Munich's German midfielder #42 Jamal Musiala, Bayern Munich's German forward #10 Leroy Sane and Bayern Munich's Canadian defender #19 Alphonso Davies celebrate a goal during the German first division Bundesliga football match between FC Bayern Munich and RB Leipzig in Munich, southern Germany, on December 20, 2024. (Photo by Alexandra BEIER / AFP)
Bayern Munich's German midfielder #42 Jamal Musiala, Bayern Munich's German forward #10 Leroy Sane and Bayern Munich's Canadian defender #19 Alphonso Davies celebrate a goal during the German first division Bundesliga football match between FC Bayern Munich and RB Leipzig in Munich, southern Germany, on December 20, 2024. (Photo by Alexandra BEIER / AFP)
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Bundesliga Sees Quickfire Scoring Record as Bayern Puts Dive Past Dismal Leipzig

Bayern Munich's German midfielder #42 Jamal Musiala, Bayern Munich's German forward #10 Leroy Sane and Bayern Munich's Canadian defender #19 Alphonso Davies celebrate a goal during the German first division Bundesliga football match between FC Bayern Munich and RB Leipzig in Munich, southern Germany, on December 20, 2024. (Photo by Alexandra BEIER / AFP)
Bayern Munich's German midfielder #42 Jamal Musiala, Bayern Munich's German forward #10 Leroy Sane and Bayern Munich's Canadian defender #19 Alphonso Davies celebrate a goal during the German first division Bundesliga football match between FC Bayern Munich and RB Leipzig in Munich, southern Germany, on December 20, 2024. (Photo by Alexandra BEIER / AFP)

Bayern Munich crushed Leipzig 5-1 and they broke a long-standing Bundesliga record for quickfire goals on Friday.
Two teams had never scored in the opening two minutes of a Bundesliga match until Jamal Musiala gave Bayern the lead after 28 seconds and Benjamin Šeško equalized barely 60 seconds later, The Associated Press reported.
The pace slowed after that frenetic start but not for long. Konrad Laimer put Bayern ahead against his old club in the 25th. Michael Olise found space on the right side and Laimer gave Péter Gulácsi no chance with a crisp volley.
Nine minutes later, Joshua Kimmich lashed home from almost 30 meters to make it 3-1.
Leroy Sané added the fourth with 15 minutes remaining and Alphonso Davies got his first league goal of the season to complete the rout three minutes later.
Harry Kane returned and looked rusty after missing two games with a hamstring injury but played 87 minutes of a match that helped Bayern get back on track after a rocky run.
After winning eight games in a row from late October to late November, the Bavarian giant lost two and drew one of its next five, including a 2-1 defeat to Mainz last week, its first loss in the Bundesliga.
Friday’s result bumped its lead over titleholder Bayer Leverkusen to seven points. Leverkusen plays Freiburg on Saturday.