McDonald's extends Olympic sponsorship

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INNSBRUCK, Austria (AP) -- McDonald's Corporation extended its global Olympic sponsorship for eight more years on Friday to remain a top-level sponsor through the 2020 Summer Games.

McDonald's and the International Olympic Committee didn't reveal financial details of the deal, which is worth hundreds of millions of dollars.

McDonald's has been an IOC sponsor since 1976, and will now continue for the 2014 Winter Games in Sochi, the 2016 Summer Olympics in Rio de Janeiro, the 2018 Winter Games in Pyeongchang, and the 2020 Summer Olympics.

McDonalds became the seventh top-tier sponsor to renew its partership with the IOC through 2020 following Coca-Cola Co., Dow Chemical Co., General Electric Co., Omega, Proctor & Gamble Co. and Visa Inc.

The deal was announced on the opening day of the inaugural Winter Youth Olympic Games.