Nine days ahead of the upcoming Tokyo Olympics, Indian Olympic Association (IOA) on Wednesday roped in global nutrition company Herbalife as one of its sponsors.
"We are happy to inform you about one more sponsorship which is confirmed by Global Nutrition company -- Herbalife for the Tokyo 2020 Olympic Games since our last update to you on June 17," said Rajeev Mehta, Secretary General, IOA.
"Herbalife has confirmed to us sponsorship of Rs 2.25 crore to IOA," he added. In June, the IOA had announced that JSW Group had been roped in as a sponsor for the Tokyo 2020 Olympic Games. This came a day after IOA entered a sponsorship agreement with MPL Sports Foundation as the 'Principal Sponsor' covering the Tokyo Olympic Games, 2022 Asian Games, and Commonwealth Games.
In a statement issued by IOA chief Narinder Batra and secretary Rajeev Mehta, the IOA said Parth Jindal, CEO of JSW, had confirmed the sponsorship of Rs 1 crore to the governing body.
"We are happy to inform you about one more sponsorship offer which is confirmed with JSW Group for the Tokyo 2020 Olympic Games since our last update to you on June 17," read a statement.
"Parth Jindal, CEO of JSW has confirmed to us for the sponsorship of Rs 1.00 crore to IOA," it added.
As per the IOA, MPL will pay a total of Rs 8 crore to IOA and in addition to this sports kit for the 2022 Asian Games and Commonwealth Games, the Indian contingent will also be supplied by them.
Moreover, Amul also has come forward to support IOA for the Tokyo 2020 Olympic Games. Amul's sponsorship is for Rs 1 crore for a period till December 31, 2021.
Tokyo Olympics will begin on July 23 and the Games will run up to August 8 this year. The event was slated to be held last year, but it was postponed due to the COVID-19 pandemic.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor