Watanabe Pushes for Olympic Marketing Overhaul Amid Sponsorship Challenges

IOC presidential candidate Morinari Watanabe stresses the need for a revamped Olympic marketing strategy to provide more value to sponsors. With significant sponsors like Toyota exiting, Watanabe presses for changes in the IOC's decision-making as he competes with six others for the top job.

In a bid to revitalise the Olympic marketing strategy, IOC presidential candidate Morinari Watanabe has called for substantial changes to enhance sponsor value. Speaking to Reuters, Watanabe, who leads the international gymnastics federation, criticised the existing marketing model following the withdrawal of prominent sponsors like Toyota.

Highlighting issues with the current system, Watanabe argues that sponsors are investing heavily without reaping adequate benefits. To address this, he proposes a marketing overhaul that goes beyond the reliance on the iconic Olympic rings. Watanabe is among seven contenders vying to replace outgoing IOC President Thomas Bach in March elections.

The 65-year-old also seeks a review of the IOC's decision-making process to empower more voices within the sports community. He warns against consolidating authority within the Executive Board and calls for greater collaboration with international federations and National Olympic Committees.

(With inputs from agencies.)