World Economics and its effects on Sports Sponsorships - 18 Nov 2008
To highlight the effect that the current world economic crisis is having on Sports Industry, the pharmaceutical giant and highly reputable corporation, Johnson & Johnson, has just announced (via Yahoo Sports) that is not renewing its Olympic sponsorship at the end of 2008 in order to “enable us to focus on other business priorities”.
No other Sporting event in the world has had as much commercial success as the Olympic Games and this shows just how serious things are evolving as this is the fourth (Top level) partner to end their support this year.
Undoubtedly, things will evolve quickly when the new US Administration is inaugurated and the EU and Oceania Economic initiatives unfold but until then, we’re probably going to see more of these announcements.
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