NAGOYA: Toyota Motor Corp. is planning not to renew its top-level sponsorship contract with the International Olympic Committee after the Paris Games this summer, it was learned Monday.

The company will instead provide direct financial assistance to athletes and support para-sports.

Under its sponsorship deal with the IOC, Toyota has provided financial aid and transportation during the Olympics. The 10-year contract was signed in 2015 and is set to expire this year.

Toyota believes it has fulfilled its role as an Olympic sponsor, partly because the Tokyo Games were held in 2021, informed sources said.

Meanwhile, the automaker plans to maintain its sponsorship contract with the International Paralympic Committee. It also plans to continue managing a total of about 30 rugby, baseball, and other sports teams.

JIJI Press