SOCHI — The International Olympic Committee has extended its sponsorship deal with Panasonic for another eight years to 2024, making it the first sponsor to do so, the IOC announced Thursday. The Japanese electronics company's current deal with the IOC goes until 2016 and the Rio de Janeiro Summer Olympics. “We are thrilled to be able to announce that we will continue to work with our long-term partner Panasonic,” IOC President Thomas Bach said in a statement. Panasonic has been one of the IOC's elite sponsors since 1985, signing up to The Olympic Program (TOP), which comprises 10 companies. The 2013-2016 package is estimated to generate about $1 billion in revenue. – Reuters
