Sponsors Abandon Tokyo Olympics As Spectators Officially Banned From Events

How do you say "shite-show" in Japanese?

Zero Hedge

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Now that Japanese leaders have imposed yet another state of emergency on Tokyo (the fourth since the start of the pandemic), spectators have been officially barred from all Olympic events.
As a result, Reuters reports that many Olympic sponsors - who had hoped to cash in on their sponsorship by hawking food, drinks and goods to spectators at the live events - are pulling out of the event.

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But it's not just smaller sponsors and vendors who are balking now that spectators are being excluded. More than a dozen companies, including Canon, Tokio Marine and Nicido Fire Insurance and Ajinomoto are also dropping out

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Pretty much all of the 60 or so corporate sponsors feel like they're not getting their money's worth. Together, they paid a record of more than $3 billion for the sponsorship rights, with another $200MM spent to extend their contracts after the Games.

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They have been frustrated by what one of the sources described as "impromptu" decisions by organisers, particularly the months-long delay on whether spectators would be allowed

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Cutting off their own noses to spite their faces. Can't have everybody wearing masks and catching the coronavirus at the same time. That would ruin the narrative, or having a bunch of vaccinated people perhaps catching it.