New Tokyo Olympic sponsors coming onboard: CEO Muto

Japan Today -- Jul 22
Tokyo 2020 CEO Toshiro Muto has told Reuters the organizing committee expects to take on several new sponsors in the coming months despite businesses being hit hard by the coronavirus pandemic.

The Tokyo Olympics were due to start on Friday but were put back to 2021 due to the pandemic.

The delay will incur additional costs for organizers but Muto, who said the final figure would not be known until December, is hopeful new sponsors will help bridge the gap.

“I know that businesses are in dire circumstances because of coronavirus but still there are companies who are coming forward to say they want to sponsor the Games, which we appreciate very much," Muto said. "It is a bright piece of news."

On Wednesday, Tokyo 2020 announced that Tokyo Skytree, the tallest tower in the world, is joining as a new Games sponsor.

Muto said he hoped all of Tokyo 2020's current sponsors would extend their contracts until the start of the Games next year, although this will come at a cost.

"We are hoping that there will be additional contributions (from existing sponsors) in terms of sponsorship fee because of the postponement of a year," Muto said. "We would appreciate a lot if they agree to this."

Muto did not give the names of any other new sponsors.

- Japan Today