14 Jan 2012

Olympic deal extended

5:37 am on 14 January 2012

McDonald's is to extend its sponsorship of the Olympic Games for another eight years until 2020.

The new deal covers the 2014 winter Games in Sochi, Russia, and 2016 summer Games in Rio de Janeiro, Brazil.

The 2018 winter Games will be held in Pyeongchang, South Korea, and the 2020 summer venue is yet to be decided.

McDonald's is paying a reported $US100 million for each deal of one winter and one summer Games.

The company has been an Olympics sponsor since 1976.

The IOC is estimated to have garnered about $1bn in sponsorship revenue in the current four-year cycle which ends this year 2012.