General Motors has been a sponsor of the Olympic Games since 1997, but it won’t renew its contract with the Games and television network NBC when it expires after the 2008 Beijing Games. The contract was worth over $900 million when it was signed ten years ago, but GM says that its return on investment for the 17 day media exposure isn’t worth the money.
The contract had been divided into two parts: $300 million secured GM as the official vehicle provider of the games; $600 million gave them exclusive rights to NBC’s U.S. television and online coverage.
GM said it was difficult to carry out its on-site sponsorships at the venues and that it didn’t do much at the Turin or Athens games.
GM of Canada will continue as the official vehicle for the ’12 games in Vancouver on a separate contract.
