The Sportfive agency’s approach to marketing European rights for the 2014 and 2016 Olympic Games was praised by International Olympic Committee television and marketing services managing director Timo Lumme. He told SportsPro that the IOC was “very happy” with the agency despite difficult trading conditions.
“They can only go at the pace that the markets allow them to go,” Lumme said. He added that the markets must be given time to learn about the sales process considering it is the first time that IOC rights have been available through an open tender in these territories.
“Overlay that with the economic conditions and you can see that it is not always straightforward, but all that being said, I think they are doing a great job,” Lumme said.
Sportfive replaced the European Broadcasting Union as the IOC’s rights distribution partner in 40 European markets in February 2009 in a deal that guaranteed the governing body €236.5 million. The EBU had held the rights since 1964.
The IOC has been negotiating directly with Europe’s largest markets and has sold rights for the 2014-16 cycle in France, Germany, Italy, Spain and Turkey. A deal is yet to be reached in the UK.
UPDATED ON 24 APRIL 2012 TO MAKE SPORTFIVE-EBU DEAL VALUE €236.5 MILLION