Alibaba has signed a deal to sponsor the next six Olympic Games, in a move expected to deliver at least $600m into the coffers of the body that runs the world’s biggest sporting event.
The Chinese ecommerce group joins an elite corporate list that includes McDonald’s, Coca-Cola and Visa as part of the International Olympic Committee’s worldwide sponsorship programme.
Under the terms of the deal unveiled yesterday, Alibaba will also provide technology services to the games organisers and establish the Olympic Channel, a digital television service intended to promote the games to younger sports fans. Alibaba said it would help tailor the channel for Chinese audiences.
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