The so-called comprehensive agreement, which appears to have an option to extend it until 2032, would be the first long-term sponsorship by US Olympic and Paralympic Properties (USOPP), the joint venture to sell the LA28 organizing committee and the USOC. Continue your journey by exploring our latest perspectives on inclusion, wellness, our sponsorships and more. Nike will have access to U.S. Olympic brands and graphics for use in advertising and marketing, as well as for display on its expanded brand line like Converse. In addition, it will work with the Committee in the context of a multi-million euro licensing agreement for the manufacture of products ranging from footwear to clothing. The International Olympic Committee`s (IOC) long-standing justification for Rule 40 was that it prevented over-knowledge of the Olympic Games while protecting official Olympic sponsors, who obtained exclusive exhibition rights in exchange for their sponsorship during the Games. Under the previous iteration of Rule 40, “no participant, coach or official participating in the Olympic Games may authorize the use of his or her person, name, image or athletic performance during the Olympic Games for advertising purposes,” unless a waiver has been authorized. The rule applied during a period of advertising blackout was intended to prevent so-called “Ambush” marketing from diminishing the value of official Olympic sponsorship and discouraging parasitism about the well-known nature of the Games. In particular, the rule prohibits any advertising between nine days before and three days after the end of the Olympic Games by non-sponsors, including images, images and other mentions of Olympic athletes. Even outside the blackout period, non-sponsor advertisements were needed to focus on athletes and not the Olympic game, and non-sponsors were expected to submit advertisements containing biographical references to responsible athletes as Olympic athletes for USOC approval.
Nike, Inc. has signed up as the official sponsor of the U.S. Olympic and Paralympic teams in 2006 and 2008 and is replacing rival Adidas-Solomon. Nike joins 60 others, whose sponsorship and licensing fees currently stand at $405 million, according to the U.S. Olympic Committee. Copyright © 2019 Finnegan, Henderson, Farabow, Garrett and Dunner, LLP. DISCLAIMER: Although we want to hear from you, the information exchanged on this blog cannot and does not create any lawyer-client relationship. Don`t hesitate to publish information that you consider personal or confidential. If you want Finnegan, Henderson, Farabow, Garrett and Dunner, LLP to represent you, to establish a lawyer-client relationship, you must first enter into a written replacement agreement with Finnegan. Contact us for more information.
