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Toyota to sponsor Olympics in long term

Xinhua, March 13, 2015 Adjust font size:

Toyota Motor Corp. becomes the worldwide Olympic sponsor Friday in a deal reportedly worth nearly 1 billion U.S. dollars.

The deal starts globally in 2017 and runs through the 2024 Olympics, including the 2020 Games in Tokyo

Toyota becomes the first car company ever signed up by the International Olympic Committee for its top-tier TOP sponsorship program in the "mobility category".

Terms of the deal were not announced, but Japanese media reported Toyota will pay 835 million dollars.

IOC President Thomas Bach was in Tokyo to sign the agreement with Toyota president Akio Toyoda.

Toyota becomes the third Japanese company to become a worldwide Olympic sponsor after Panasonic and Bridgestone. Toyota also becomes the 12th TOP sponsor and third committed through 2024. Other TOP sponsors include Coca-Cola and McDonald's.

The Toyota deal covers the 2018 Winter Games in Pyeongchang, South Korea, the 2020 Tokyo Olympics, and the 2022 Winter Games and 2024 Summer Olympics. Endi