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Toyota Confirms it Will End Olympics, Paralympics Sponsorship

Akio Toyoda (Reuters)
Akio Toyoda (Reuters)
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Toyota Confirms it Will End Olympics, Paralympics Sponsorship

Akio Toyoda (Reuters)
Akio Toyoda (Reuters)

Toyota Motor Chairman Akio Toyoda confirmed on Thursday the company will not renew its 10-year contract as a top sponsor for the Olympics and Paralympics following the Paris Games.
The world's biggest automaker, which had already suggested it would not renew the contract when it expired, will continue to financially support athletes, Toyoda said in the company-owned media channel.
Earlier this month, Panasonic Holdings announced it would also end its 37-year contract as a top sponsor after it became an official partner of the Olympic Games in 1987, according to Reuters.
The International Olympics Committee saw revenues of $2.295 billion from its top sponsors for the period 2017-2021, the second-biggest source of income for the Olympic movement, with broadcasters paying $4.544 billion over the same period.

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Tien, Fonseca Set for Final Showdown at Next Generation ATP Finals in Jeddah

Tien secured the first ticket to the final after defeating his compatriot Alex Michelsen in a thrilling five-set match. (SPA)
Tien secured the first ticket to the final after defeating his compatriot Alex Michelsen in a thrilling five-set match. (SPA)
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Tien, Fonseca Set for Final Showdown at Next Generation ATP Finals in Jeddah

Tien secured the first ticket to the final after defeating his compatriot Alex Michelsen in a thrilling five-set match. (SPA)
Tien secured the first ticket to the final after defeating his compatriot Alex Michelsen in a thrilling five-set match. (SPA)

American Learner Tien and Brazilian João Fonseca advanced on Saturday to the final of the Next Generation ATP Finals.

The event, which will be held at the King Abdullah Sports City Arena in Jeddah on Sunday, is being organized by the Saudi Tennis Federation and the Association of Tennis Professionals (ATP), sponsored by the Public Investment Fund, and held under the supervision of the Ministry of Sport.

Tien secured the first ticket to the final after defeating his compatriot Alex Michelsen in a thrilling five-set match. This was Tien’s first appearance in the final of a professional tournament outside the US.

In the second semifinal, Brazilian João Fonseca earned his spot in the final by defeating France's Luca Van Assche in straight sets. Fonseca remains unbeaten in this edition of the tournament, being the only player with a perfect record.

Following his win, Tien said: "I can't put my feelings into words. I'm very happy with this victory, but I also feel a bit of regret since it came at the expense of Alex, with whom I share a strong bond. Of course, I'm thrilled to have advanced to the final."

Fonseca also reflected on his performance and qualification, saying: "I've never had such an outstanding week on a hard court before. I'm playing at my highest level, and I'm proud of what I've accomplished. I stayed fully focused, with my family and training team by my side, which has been amazing. I hope to keep this momentum and win the title."

The final match is expected to draw a large audience and media presence. It concludes the global tennis season for 2024.

The ATP Next Gen Finals represent a significant milestone for tennis in the Kingdom; it is the first professional tennis tournament hosted by Saudi Arabia, and helps achieve the Saudi Tennis Federation's ambitions, including fostering Saudi champions in the sport.