IOC: ends Worldwide TOP Partnership with McDonald's (1^st level), three years before end of contract

"The IOC and McDonald's have announced that they have mutually agreed to bring their Worldwide TOP Partnership to an end," the International Olympic Committee announced on 16/06/2017. The US retail food group, a partner of the IOC since 1976, had a first-level partnership agreement in the sponsorship hierarchy which runs until the 2020 Tokyo Summer Olympics (JAP). McDonald's paid more than $25m per year to the IOC in the last olympiad (2013-2016), according to British and American media.

"In today’s rapidly evolving business landscape, we understand that McDonald’s is looking to focus on different business priorities. For these reasons, we have mutually agreed with McDonald’s to part ways," said Timo Lumme, managing director of IOC television and marketing services, on 16/06/2017.

"As part of our global growth plan, we are reconsidering all aspects of our business and have made this decision in cooperation with the IOC to focus on different priorities," added Silvia Lagnado, the global chief marketing officer at McDonald's. "The financial terms of the separation was agreed by all…