Once a bonanza for sponsors, the Olympics are becoming a drag

FROM CUISINEIOCLA to carmaking, the Japanese way is meticulous. Yet with just over a month to go, the Tokyo Olympics remain anything but. Thanks to covid-19, and Japan’s sluggish vaccinations, it is unclear whether the games, originally due to be held last summer, will let spectators in—if, that is, the event takes place at all. Organisers insist it will. This is nerve-jangling for those hoping to peak at the right moment: the athletes, of course, but also the games’ financial muscle, its corporate sponsors. Though no backers have pulled out, some are privately calling for another delay. , the games’ official media partner, has called the decision by the International Olympic Committee () to plough on “self-righteous”. What was supposed to be a golden opportunity to burnish brands has turned into a reputational minefield.Olympic commercialism has deep roots. Kodak advertised in the official results book of the inaugural modern games in 1896. Then, in 1984, the Los Angeles Olympics ushered in a new era. It was the first to be largely bankrolled by big business. Organisers bet that brands from McDonald’s to Buick would splash out for exclusivity in their product segments. And splash out they did: the games turned a profit. Since then profits have been rare for host cities, which splurge billions on venues and transport links.