Alibaba has struck a deal to become a lead sponsor of the Olympic Games through 2028, betting that greater exposure to a global audience will help it reach consumers and promote its cloud computing business.

Rome Mayor Virginia Raggi has rejected the Italian city’s bid for the 2024 Olympics, effectively dooming the capital’s candidacy for the second time in four years.

RTÉ has yet to decide if it will broadcast the 2020 and 2024 Olympics after US-based media giant Discovery Communications secured the European broadcast rights for four Olympics through 2024 in a landmark deal worth €1.3bn.

International Olympic Committee president Thomas Bach has his expressed confidence over the financial implications of hosting the 2022 Winter Games after formally declaring the three candidate cities in Lausanne on Monday.