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‘Delayed Olympics relief for sponsors’

by Pakistan Latest News Update

British advertising veteran Sorrell says postponement was a logical step. PHOTO: AFP

British promoting veteran Sorrell says postponement was a logical step. PHOTO: AFP

TOKYO: The choice to postpone the Tokyo Olympics till 2021 might be welcomed by the sponsors who pay a whole bunch of tens of millions to be related to the occasion, British promoting veteran Martin Sorrell has advised AFP.

Confronted with rising worldwide stress, the Worldwide Olympic Committee on Tuesday delayed the July 24-August 9 Video games, a transfer by no means earlier than seen in peacetime within the Olympics’ 124-year historical past.

Sorrell — who based promoting large WPP and sits on the IOC’s Communications Fee — mentioned delaying the Video games was logical given the coronavirus pandemic and a ensuing recession he compares solely to that created by battle.

“The (local and international) sponsors would prefer next year in any case given the chaos that is going on at the moment,” he mentioned in a cellphone interview.

“So this works out for both sets of sponsors.”

Sorrell, who left WPP in 2018, concedes there are hurdles to be overcome reminiscent of the provision of the venues and the timetable — the IOC has left the door open to a spring Olympics — however believes the “extremely competent” Japanese organisers would take care of these adjustments.

However he foresaw the Video games going down in additional propitious monetary occasions.

“People ask me if this recession is different to others. I say there has been nothing like it before — the only comparison is wartime,” he mentioned.

“I’ve skilled a number of in my life, such because the oil droop of the 80s, the dotcom in 2001 and 2008.

“Nothing has been as fast as this. There might be a fallout for some however there might be a restoration.

“Q2 (the second quarter) will be very difficult this year, Q3 less so and Q4 better, so there will be some signs of recovery by the time the Games come round.”

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