Deloitte has been a sponsor of the USOPC and US Soccer and is now the IOC’s 14th TOP sponsor.Images: getty
Ohen the International Olympic Committee’s Executive Board approved Olympic Agenda 2020+5 in March 2021, it set out to implement a broad set of recommendations that were intended, in part, to help modernize an organization that had a reputation for be at the origin of time.
The following months amply demonstrated that the IOC was serious about planning for the future. In May, it launched its first Olympic Virtual Series, a global esports competition aimed at reaching young fans. The following month, the organization agreed to a $1.3 billion deal for Endeavour’s On Location to have exclusive operating rights for Olympic and Paralympic hospitality until 2028, erasing the archaic and fragmented model. national agreements. And at the Tokyo Games last summer, viewers witnessed the Olympic debut of youth-oriented sports like surfing and skateboarding.
Today, the IOC has moved even further towards a digital future through its agreement with professional services giant Deloitte, its new global sponsor. As part of its agreement to join the IOC’s The Olympic Partners sponsorship programme, which was announced earlier this month, Deloitte will provide management and business consultancy services to the IOC for the next 10 years, spanning Paris 2024, Milano Cortina 2026, Los Angeles 2028, the 2030 Winter Games which have yet to be awarded and Brisbane 2032. These areas include what the IOC has called “digital strategy and transformation”.
Timo Lumme, the CIO’s top marketing manager, said Deloitte’s services will be key in guiding the CIO’s efforts to stay relevant in an increasingly online world. “We all read articles about how the various elements of digitalization in the world are coming to surround our daily existence, and how elements such as the metaverse will change, for example, the interrelationship between brands and customers “, said Lumme. . “It’s really important for us to be close to the avant-garde and the avant-garde. And that’s really what we expect from our relationship with Deloitte.
Deloitte’s short-term goals will include improving fan engagement and managing the transfer of information to key stakeholders. A “Center of Excellence” plan is in the early stages of determining the most effective way to transfer IOC best practices to National Olympic Committees. Other priorities include athlete career transitions; targeted initiatives around DEI and sustainability; and recently trending digitization domains such as NFTs.
According to Deloitte Senior Partner John Skowron, who led the firm’s global engagement with the IOC, the new agreement will also be an opportunity to leverage a long history in the Olympic and Paralympic movement, which dates back to 2003. the extension of these projects,” Skowron said. “When the discussion really came around a TOP sponsorship, I think it was kind of a natural evolution to take some of that work and move it forward.” Deloitte has struck deals with the US Olympic and Paralympic Committee and the British Olympic Association, among other national Olympic committees, and last May signed on as a sponsor of the Los Angeles 2028 Games.
Importantly, Deloitte’s global category does not include traditional professional services in areas such as payroll or tax. In fact, Deloitte’s Business Advisory and Management Services category was designed to not conflict with existing professional services offerings across the Olympic Movement. These would include Deloitte’s other Olympic partnerships, as well as the Paris 2024 professional services agreement with PricewaterhouseCoopers.
Neither Lumme nor Skowron would comment on the value of the Deloitte deal, but it is believed to be roughly in line with other recent TOP deals. The average TOP transaction is now worth $200 million per quad.
Skowron acknowledged that the long 10-year term of the agreement leaves room for Deloitte’s category to evolve, particularly as existing partnerships in similar or related categories expire in the coming years. “It’s a long affair, and we look forward to seeing this relationship evolve and grow to bring value where it makes sense on both sides of the table,” Skowron said. “But our focus right now is certainly on the deal that we announced and progressing it.”
The new sponsorship deal was largely set up by the Tokyo Games last summer, multiple sources with knowledge of the schedule said, and it was the latest deal brokered by former vice president of development Christian Voigt. marketing, before he left the IOC last summer. for a role at fitness apparel company Whoop. Several Organizing Committee sources were unaware of an upcoming TOP deal as recently as the Beijing Games, although one source said it is not unusual for the IOC to provide advance notice. minimum for TOP agreements that do not require OCOG alignment.
Deloitte becomes the IOC’s 14th TOP Partner, continuing a trend of global sponsorship expansion. Lumme said the IOC has no target for the size of its sponsor list. “Over the years, I’ve often been asked what the ideal number of TOPs is,” Lumme said. “The honest answer is that we don’t really think about numbers. What we are looking at is the particular sector, and is the sector suitable for a holistic approach or is it best treated as a local approach?
“Nevertheless, it’s really about trying to keep up with and stay on top of key trends in the ongoing globalization and evolution of our industries, and the needs of growing businesses in terms of finding platforms world.”