Watanabe Advocates Olympic Marketing Overhaul

IOC presidential candidate Morinari Watanabe has called for a major overhaul of the International Olympic Committee's marketing strategy to enhance value for sponsors, particularly after the withdrawal of key Japanese sponsors such as Toyota, Bridgestone, and Panasonic. Watanabe, who has served as the head of the international gymnastics federation since 2017, emphasized that while many companies want to support the Olympics, they require adequate returns on their investments. He advocates for a review of the IOC's decision-making process to ensure more inclusive collaboration with various stakeholders, warning against concentrated authority within the Executive Board. With elections approaching in March, Watanabe is one of seven contenders, including prominent figures like Sebastian Coe and Kirsty Coventry. His proposals aim to address the imbalance in sponsorship value, which he believes currently fails to meet corporate expectations. As the IOC prepares for a new leadership era, Watanabe's vision could significantly influence the organization's approach to sponsorship and marketing.