Istanbul 2020 Olympic Bid: Turkey Unveils Sponsorship Deal Worth $20 Million

The Olympic big for Istanbul to host the 2020 Summer games just received a major boost. The new bid unveiled a sponsorship deal from seven of Turkey’s largest corporations that will include nearly $20 million of private funding.

The sponsorship includes money from Turkish Airlines, Koc Holding, Turkcell, Uelker, Dogus Group, Digiturk and Sabanci Holding.

Istanbul is going up against Madrid, Spain and Tokyo, Japan to receive the nod to host the games. A final decision will be made during a vote from the International Olympic Committee in Buenos Aires this September.

“Turkey is one of the most fertile economic environments in Eurasia, and these seven companies typify the innovation, drive and tireless pursuit of excellence that have got us here,” bid leader Hasan Arat said.

“Our new National Sponsors bring with them an enormous amount of expertise and experience across a wide range of sectors and their input will be crucial as the campaign progresses. This is the most powerful alliance between the sports community, the business community and every level of government we have ever had.

“It reflects Turkey’s remarkable economic growth in the past five years.”

The sponsorship money could help Istanbul make a big push towards earning the games. They have been a finalist to host the Olympics on five occasions. The past two atempts fell short in 2000 and 2008.

“If you don’t have a strong economy you cannot handle this operation (Olympics) because there is a huge amount of investment,” said Arat.

“I think the economy and the appetite of the Turkish people is so important. This is the fifth bid of Turkey (in the last six campaigns). We learned a lot but this is a new bid for a new Turkey.”

Tokyo is currently viewed as the favorites to host the 2020 games, but it would be nice to see a city as beautiful as Istanbul earn the 2020 bid.

Tags: 2020 Olympics 2020 Summer Olympics