The International Olympic Committee (IOC) has committed to contributing US$925 million to the host city of the 2026 Winter Olympic and Paralympic Games.
WEDNESDAY'S BIG STORIES
Calgary, Canada; Stockholm, Sweden; Sapporo, Japan; Erzurum, Turkey; Graz, Austria; and a joint bid from cities in Italy are in contention for the Games.
The IOC published its host city contract Monday detailing measures designed to save a Winter Games host city US$500 million and a future Summer Games host city US$1 billion.
The host city contract applies to 2026 bidders as well as previously elected hosts for the 2024 Summer Games (Paris) and 2028 Games (Los Angeles), the IOC said in a statement.
A lack of candidate cities for the 2022 Winter Games – Beijing, China and Almaty, Kazakhstan were the only contenders — prompted the IOC to reform its bidding in an effort to make hosting cheaper and more sustainable.
“This is another significant step in making the Olympic and Paralympic Games a reality for the communities that have the ambition of hosting the world’s biggest sporting event,” said IOC Olympic Games executive director Christophe Dubi.
“We are enabling the organisation of games that will be sustainable and create lasting legacies for their citizens, while also reducing complexity and costs.”
Casamigos, the tequila brand co-founded by film star George Clooney, has agreed a partnership with the National Basketball Assocation's (NBA) Milwaukee Bucks and their new arena, Wisconsin Entertainment and Sports Center, to become an official ultra-premium partner.
Spanish top flight soccer side Deportivo Alavés have become the third La Liga club to sign a shirt sponsorship deal with Betway, penning a two-year contract.
The Italian Rugby Federation (FIR) has signed up insurance company Cattolica Assicurazioni as its new main sponsor, in a seven-year deal.
Professional simulator hardware manufacturer Fanatec has agreed a deal to sponsor the Formula One motor-racing championship’s esports series through 2022.
Nordavind, an esports organisation located in Oslo, Norway, has partnered with DNB in two-year deal that sees the domestic commercial bank become the team's title sponsor.
The World Baseball Softball Confederation (WBSC) has agreed a supply deal with Japanese baseball equipment manufacturer SSK for a host of its events.
British recovery brand Pulseroll have reached an agreement to become an official partner of England Handball.
The Glasgow 2018 European Championships has named CSM Live as its official provider of event look services.
Olympic swimming champion Joseph Schooling will become the new face of imaging and optical products manufacturer Canon after signing a deal until 2021.
Greek pay-television broadcaster Cosmote TV has sealed a multi-year extension of its rights deal for the NBA.
Irish-language free-to-air broadcaster TG4 has struck a four-year extension to its broadcast rights and sponsorship agreement with the Ladies Gaelic Football Association.
Pay-television broadcaster BeIN Sports has extended its rights deal in France for National Football League (NFL).
International sports architect, AFL Architects, has been appointed to lead the design to expand English second-tier club Millwall’s home stadium, The Den.
Bidding & Hosting
The RBC Canadian Open, the oldest continuously-running golf tournament (non-major) on the PGA Tour calendar, will move from its current late July slot to early June next season.
European Tour has reached an agreement for the Made in Denmark tournament to remain on its Race to Dubai schedule until at least 2023 with the tournament getting an increased prize fund of €3 million (US$3.5 million)
Politics & Governance
In its latest reform effort, the International Boxing Association (Aiba) has become the second international sports federation to partner with the new International Testing Agency (ITA).
Hijack of the Day
He may not be playing the World Cup for Sweden but Zlatan Ibrahimovic is proving to be worth his seat on the plane for Visa, the Fifa partner who decided to put the Swede front and centre of its activations in Russia. During Sweden's last-16 win over Switzerland, Ibrahimovic's name was the second most mentioned of his countrymen on Twitter after goalscorer Emil Forsberg. It is not MasterCard, but that could be priceless.
Our industry digest will update throughout the day as deals break so check back to make sure you do not miss a story