Fitness equipment brand Technogym has become the 67th the domestic sponsor of the Tokyo 2020 Olympic and Paralympic Games as a third-tier Official Supporter.
The Fitness Equipment category partnership will mark Technogym’s eighth supplier deal with Olympic Organising Committees, having previously supplied the domestic organisers at Pyeongchang 2018, Rio 2016, London 2012, Beijing 2008, Turin 2006, Athens 2004 and Sydney 2000.
Under the deals, Technogym provides fitness equipment to training and competition venues.
The addition of Technogym takes the Official Supporter tier up to 20 partners for Tokyo 2020, alongside 15 top-tier Gold Partners, and 32 second-tier Official Partners.
Domestic sponsors are accorded the rights to use Tokyo 2020’s Olympic and Paralympic designations and imagery, including emblems, mascots and slogans.
In June, last year, the International Olympic Committee said that the Tokyo 2020 Olympics had generated record domestic sponsorship revenues of more than $3bn ((€2.7bn) – three times more than any previous summer Games.
This is likely to exceed the total made by the IOC for its Worldwide Partner (TOP) programme in the cycle from 2017 to 2020,
In the previous cycle, 2013 to 2016, sponsorship income of about $1bn represented about 18 per cent of overall IOC revenue, with the vast majority – 78 per cent – generated from broadcast rights.
SportBusiness Sponsorship estimates that the gap between sponsorship and broadcasting rights will close significantly in the current cycle, with sponsorship revenue from TOPs climbing to an estimated $2.46m in the cycle.