IOC bylaws designed to provide exclusivity to official IOC sponsors (paying a reported $100 million over 4 years, or more), effectively prevent Olympic athletes from monetizing their own likeness; both during the Games and the days leading up to and following competition (Feb 1-Feb 28). Violations of Rule 40, the specific regulation that forbids the unauthorized public use of athlete names, images or reference to their Olympic performance in commercial advertisements, are subject to litigation. For reference purposes, GE, Coca-Cola (KO), Procter and Gamble (PG) and Visa (V) are among the official worldwide sponsors of the Pyeongchang Winter Oympics.
Howie Long-Short: Despite the staggering dollars the IOC earns from its official sponsors, the organization managed to lose money in 2017; $99 million after adjustments. Though, the figure lacks significance in a non-Games year. The organization saw an increase in sponsorship income ($493.2 million) relative to 2016 ($410 million) and a drastic rise when compared with the same stage, in the last Olympic cycle ($141.5 million).
Fan Marino: Savvy Tinder users are altering their location to Pyeongchang, to find love…in the notoriously sexually-charged, Olympic Village. Tinder Passport, a feature that allows paying users to change their location (so they can connect with people anywhere), has seen a 1,850% increase in “passporting” to the Olympic Villages. While overall usage (+348%), right swipes (+565%) and matches (+644%) are all up too, parents of Olympians should rest assured; organizers have arranged for an Olympic record 37 condoms per athlete, at the Pyeongchang Games.
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The Pyeongchang Games start on February 9th, but winter Olympians are finding corporate sponsorship opportunities difficult to come by; particularly for those that compete in smaller sports, that don’t have a U.S. following. Athletes that win and have a compelling story are the ones landing corporate sponsorship deals. Slopestyle skier Gus Kenworthy, who won silver in Sochi and is publicly gay, has signed deals with Toyota (TM), United (UAL), Visa (V), Procter & Gamble (PG) and Deloitte. His sexuality is worth noting because human rights groups say that sexual minorities’ rights are not always protected in South Korea; a country where having homosexual relations is punishable by up to 2 years in prison.
Howie Long-Short: Becoming an Olympian is an expensive endeavor. Richard Parsons estimates that it has cost more than $500,000 to get his children (Rachel and Michael, an ice dance team) to cusp of the ‘22 Olympics. It’s unlikely he’ll ever recoup the money. Gold medals are worth just $25,000 in the U.S. and even the USOC acknowledges that most athletes cannot earn enough from their sports to make a living. That’s not the case everywhere though, gold medals are worth $952,000 in Taiwan and $746,000 in Singapore.
Fan Marino: Frigid weather is likely to affect both athletes and fans at the Pyeongchang Games, with the average February temperatures (with wind chill) there in the single digits. The newly built 35,000-seat stadium that will host the opening and closing ceremonies (up to 5 hours long) doesn’t include a roof and it’s too late and expensive to build one now. For those attending, fear not; organizers have promised portable heaters in the isles, blankets and heating pads.
Medals are nice, but sometimes not enough for Olympic athletes seeking sponsors
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