McDonald’s ends Olympic sponsorship

NEW YORK: McDonald’s Corp is ending its sponsorship of the Olympic Games three years earlier than planned, removing one of the event’s biggest corporate partners at a time when its allure is fading.

The International Olympic Committee and the fast-food giant are terminating their worldwide partnership, effective immediately, they said in a statement on Friday.

McDonald’s will continue to be a sponsor of the 2018 Winter Games in South Korea.

The split deals a blow to an event that’s already been struggling to line up host cities.

The 2022 Winter Games were awarded to Beijing after several cities dropped out of contention, and the number of cities vying for the 2024 Games has dwindled to two — Los Angeles and Paris.

McDonald’s became an official sponsor of the games in 1976, serving as both a source of funding and global publicity.