April 19, 2009

Japan touts 2016 Oly corporate backing

Japanese officials have detailed the corporate financial backing of their bid to land the 2016 Summer Olympics to evaluators, officials say.

After a state dinner thrown in Tokyo Saturday for the International Olympic Committee's Evaluation Commission, Japan Olympic Committee members presented detailed pictures of the Tokyo bid's finances and marketing plans, The Daily Yomiuri reported.

Japan has a strong corporate community with 47 of the top 500 companies in the world based in Tokyo, Japan Olympic Committee president Tsunekazu Takeda told reporters. We are confident of support (for a Tokyo 2106 Olympics) from our companies.

The committee announced last week it had recruited six major corporations as Gold Partners, the bid's most exclusive and expensive marketing arrangement. Takeda told the Daily Yomiuri that the new sponsors, combined with 12 other official partners, means the committee has already secured $75 million, equal to 75 percent of its last quadrennial budget of $101 million.

Tokyo is competing against Chicago, Madrid and Rio de Janeiro to host the 2016 Summer Games.