Airbnb is sponsoring the Olympics until 2028 for a reported $500 million

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Airbnb has scored a nine-year sponsorship deal with the International Olympic Committee (IOC). The deal comes in time for next year's Tokyo 2020 games, and will cover four more games in Beijing, Paris, Milan, and LA — all hotspots for the accommodation rental platform. The Financial Times reports the deal was closed at $500 million. Visit Business Insider's homepage for more stories. Airbnb is becoming a worldwide Olympic partner in time for the 2020 Olympics in Tokyo as the games' organisers bid to cut the costs associated with hosting the event. Airbnb said that the partnership with the International Olympic Committee (IOC) would cover five Olympics and Paralympics over the next nine years.

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