65% Of Tokyo 2020 Domestic Sponsors Unsure Of Backing The Games

Almost two thirds of domestic sponsors for the Tokyo 2020 Games are undecided on whether to continue their agreements into 2021, according to a NHK poll.

The survey of 57 of the 78 Olympic and Paralympic sponsors found that 65 per cent of the companies backing the Games in the Japanese capital have not yet decided whether to extend their support beyond the end of this year.

NHK’s survey also found that around 12 per cent of sponsors do plan to extend their contracts with Tokyo 2020, while 68 per cent of respondents have experienced economic challenges due to COVID-19.

Many sponsors have yet to enter into renegotiations with Tokyo 2020 organisers since the Games were postponed back in March, and some reportedly fear the event could be scrapped altogether if the pandemic fears are not eased.

In recent days, Olympic officials have sought to assuage concerns that the Games might not go ahead, although they have publicly accepted that the event must happen in 2021 or not at all.

Local organisers, who are now planning for a more “simplified” Games, are set to soldier the majority of the bill for the historic postponement, which raises the likelihood of sponsors being asked to make additional financial contributions to remain involved. Should that happen, 14 per cent indicated that any decision on whether to extend would depend on the asking price.

Some sponsors have also expressed concerns that social distancing measures could heavily disrupt their promotional activities during the Games, which are due to take place from July 23rd to 8th August 2021.

Tokyo 2020’s domestic sponsorship programme has generated a record US$3.3 billion in revenue, with top-tier gold partners including the likes of Canon, NEC and Asahi Breweries.