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Sports

New rules promise Olympic marketing shake-up

Opening sequence

Opening sequence

Sports

New rules promise Olympic marketing shake-up

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COMING UP:New rules promise Olympic marketing shake-up

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Transcript

00:00:02
>> The Olympics may be about celebrating athleticism at its best in theory, but it also happens to be a marketing juggernaut. And this August in Rio, for the first time brands can market around the Games without paying a cent to the Olympics. Reuters correspondent Liana Baker.>> The winner here are brands like Under Armour, Gatorade, Red Bull, Go Pro.
00:00:24
These brands are came just a fraction of what the official Olympic sponsors pay and they're still associate with the Olympics. They're kind of getting to steal the attention away from these official brands and get that halo around the Olympics around their brands, without paying for it.>> Expect to see legendary Olympian, Michael Phelps, not just hitting the pool, but marketing his sponsor Under Armour without the iconic Olympic rings.
00:00:50
His agent and many others pushed for years to be able to do this, and the International Olympic Committee is leaving plenty of money on the table with the change.>> They have to be viewed as helping these Olympians, and these Olympians were complaining that they weren't getting the sponsorship money that they deserve.
00:01:06
So before anything bad happened, legal action, a strike, the IOC got ahead of it and reformed the rules.>> Official partners aren't happy. Reuters has learned that McDonald's, which has a reported $100 million four year contract with the IOC, may want to renegotiate that hefty price tag on future deals.