At 14:30 on the afternoon of December 4, Legend Group announced that it would not renew its contract for the Olympic Games Global Top-tier TOP Partner Program. This vacancy is reportedly to be taken over by its competitor Acer.
A spokesperson for Legend stated that the Turin Winter Olympics and the upcoming 2008 Beijing Olympics will effectively help Legend achieve its first-stage brand objectives. In order to make Legend a globally renowned brand, future sports marketing efforts will focus more on regional and strategic markets. Legend also plans to continue promoting its Olympic strategy over the next year or so.
An insider at Legend revealed that the primary reason for sponsoring the Olympics was due to the fact that the 2008 Olympics were being held in Beijing. This sponsorship period will officially conclude after the end of the 2008 Beijing Olympics, which are scheduled to close on August 24.
Currently, Legend is also a sponsor of major events such as Formula 1 (F1) and the NBA.
During this time, Tencent learned that Acer will enter the Olympic Games Global Top-tier TOP Partner Program, paying over $80 million for this privilege. This news will be announced soon. However, when Tencent Technology contacted Acer, they stated that there was no such information to confirm.
The full English name of the Olympic "TOP Plan" is The Olympic Program (Global Partners of the Olympic Movement), which is the global sponsorship program of the International Olympic Committee responsible for providing financial support to the entire Olympic movement. It is currently one of the most successful projects in international sports market development. It was established in 1985 and operates on a four-year cycle.
By tradition, the TOP Plan includes around ten companies. Currently, the TOP global sponsors for the 2008 Beijing Olympics include Coca-Cola, Kodak, Swatch, Schlumberger, AIG, Samsung, General Motors, Panasonic, VISA, and Legend. Among these, notable IT companies like Samsung and Kodak are long-term partners of the International Olympic Committee.
In 2004, Legend officially joined the ranks of Olympic TOP partners. At the time, disclosed data showed that Legend spent $80 million (including physical goods) for this purpose. In April 2007, Legend also became a global partner for the torch relay of the 2008 Beijing Olympics.
Previously, Kodak also announced that it would officially exit the Olympic TOP Partner Program after 2008.