Alibaba will become a sponsor of the Olympic Games


Chinese Internet giant Alibaba Group has entered a number of the Olympic Games sponsors. As expected, the company will present at least 600 million dollars for carrying out the next six Games, according to The Financial Times.

The Chinese Group founded by Jack Ma will also be among the official partners along with such companies as McDonald’s, Coca-Cola and Visa as part of a worldwide sponsorship program until 2028. According to the agreement, Alibaba will provide the organizers with a platform for sale of goods with Olympic symbols and optimize the Olympic digital channel to promote the Games among young sports fans in China.

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Financial details of the agreement are not announced, but, according to sources, the sponsors have been recently paying the International Olympic Committee about 200 million dollars for each four-year cycle, including one Summer and one Winter Olympics.

Western companies dominated among the sponsors of the Olympics before, the sole representative of the Celestial so far was only a manufacturer of personal computers, the Lenovo Company, in 2008 at the Games in Beijing.