How the Coronavirus Could Impact Olympic Sponsors

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Could the Olympics be impacted by the coronavirus?

The answer is yes, according to International Olympic Committee member Dick Pound.

“In and around that time, I’d say folks are going to have to ask: ‘Is this under sufficient control that we can be confident about going to Tokyo or not?’” Pound said in an interview with The Associated Press.

“A lot of things have to start happening. You’ve got to start ramping up your security, your food, the Olympic Village, the hotels, The media folks will be in there building their studios,” he said.

TheStreet's Tony Owusu broke down what this could mean for sponsors.

Coca-Cola KO, Alibaba BABA, General Electric GE, Intel  (INTC) - Get Intel Corporation (INTC) Report and Visa V are among the “Worldwide Olympic Partners” for the game. These sponsors have invested up to $100 million each to obtain premium sponsoring.

Alibaba, for example, negotiated a 12-year contract with the International Olympic Committee worth a reported $800 million. Alibaba said it has plans to “digitally transform the Games” through initiatives including facial recognition technology, travel guidance and enhanced e-commerce capabilities.

Watch the full video above for more.

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