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BERLIN (Reuters) - Swiss watch manufacturer Omega on Monday extended its Olympic Games sponsorship by 12 years, becoming the first top International Olympic Committee sponsor to commit until 2032.
Omega, the Games official timekeeper, is one of 12 major companies on the IOC's sponsorship programme. China's Alibaba was the latest addition to the list in January, penning a deal to 2028.
Omega's deal sees the Swiss company continue providing timing, scoring, in-venue results systems, equipment and broadcast graphics services, the IOC said.
No financial details were disclosed. IOC sources previously told Reuters that major sponsors pay more than $100 million per four-year cycle, which includes one summer and one winter games.
"Omega is the world's leader in sports timekeeping, and the extension of our agreement through to 2032 means Olympic athletes will continue to be able to rely on Omega's expertise," IOC President Thomas Bach said in a statement.
"2032 is an important milestone, as it will mark 100 years since the Olympic movement was first able to count on Omega's timekeeping solutions."
Reporting by Karolos Grohmann; editing by Mark Heinrich