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McDonald's Is Dropping The Olympics

After 41 years, McDonald's is leaving its sponsorship deal with the International Olympic Committee behind.
Posted at 11:23 AM, Oct 03, 2017

The Olympic rings and the golden arches are parting ways. McDonald's has ended its contract with the Olympic Games.

The fast-food giant has sponsored the games for 41 years and was set to do so until 2020. The company's chief marketing officer said McDonald's wanted to "focus on different priorities."

McDonald's has been working to slim down recently. The company says it's on track to cut costs by $500 million by the end of 2018.

And Olympic sponsorship is expensive — $100 million over four years, and Reuters reports those fees could rise to around $200 million.

McDonald's formal partnership with the Olympics ends now, but as part of the separation agreement, the company will still sponsor the 2018 Winter Games in South Korea.