Panasonic to end 37-year Olympic sponsorship contract

Panasonic Holdings Corp. said Tuesday it will discontinue its sponsorship agreement with the International Olympic Committee, putting an end to its 37-year marketing tie-up with the event.The Japanese company agreed with the IOC not to extend the partnership after its current top-tier sponsor contract term ends in December, Panasonic said.Although the company's "support of the Olympic philosophy" remains unchanged, the group decided to end the sponsorship as it "continually reviews how sponsorship should evolve with broader management considerations," Panasonic said in a press release.The l…READ FULL ARTICLE