No financial details were disclosed. China's Alibaba is to be a major sponsor of the Olympics until 2028 after making a deal with the International Olympic Committee (IOC). "This is a ground-breaking, innovative alliance, and will help drive efficiencies in the organisation of the Olympic Games through 2028," said President of the IOC Thomas Bach. The partnership between China and the IOC, which was announced on Monday, has been described as "historic" by Chinese state media. The e-commerce giant joins 12 other firms, including McDonalds and Coca-Cola, as sponsors for the Olympics.
China's Alibaba is to be a major sponsor of the Olympics until 2028 after making a deal with the International Olympic Committee (IOC). "This is a ground-breaking, innovative alliance, and will help drive efficiencies in the organisation of the Olympic Games through 2028," said President of the IOC Thomas Bach. The partnership between China and the IOC, which was announced on Monday, has been described as "historic" by Chinese state media. The e-commerce giant joins 12 other firms, including McDonalds and Coca-Cola, as sponsors for the Olympics.