Following a mediation carried out by former Supreme Court Judge Mr Justice Finnegan, THG and the Olympic Council of Ireland (“OCI”) wish to announce that they have reached an agreement to terminate the contracts agreed between the parties in 2016 that relate to the 2018-2026 Olympic Games.
OCI accepts that these contracts were enforceable as between the parties and that THG fully intended performing its contractual obligations.
Both parties agreed that with THG reducing its business activities in Ireland that this would be the most appropriate course of action in the interests of Irish athletes and the wider Irish public.
THG has been the OCI’s most significant commercial partner since coming on board in 2010. The OCI wishes to acknowledge THG’s willingness to reach an amicable resolution in this matter.
For more information contact:
Olive Stephens: 085 8535647
Byron Ousey: 00 44 207 680 6527
As a service to our readers, Around the Rings will provide verbatim texts of selected press releases issued by Olympic-related organizations, federations, businesses and sponsors.
These press releases appear as sent to Around the Rings and are not edited for spelling, grammar or punctuation.
25 Years at #1: Your best source of news about the Olympics is www.aroundtherings.com, for subscribers only