TOKYO — Japanese tire manufacturer Bridgestone signed an agreement on Friday to become a top-tier sponsor of the International Olympic Committee in a 10-year deal that will cover the 2020 Tokyo Games.
Bridgestone officials declined to reveal financial terms of the deal but the Asahi Shimbun newspaper reported that Bridgestone will pay $344 million to become a worldwide sponsor under the IOC’s global commercial program, known as TOP.
The deal runs from the 2016 Olympics in Rio de Janeiro and covers the 2018 Winter Games in Pyeongchang, South Korea, the 2020 Tokyo Games and the 2022 Winter Games and 2024 Summer Games.
IOC President Thomas Bach was in Tokyo on Friday to sign a formal agreement with Bridgestone CEO and chairman Masaaki Tsuya.