Still better than that first
I have no problem with the rule from a brand/company perspective. The Olympics are a valuable entity and you pay to play. If a company wants to shell out $20-50 million to advertise during the Olympics then they should have exclusive rights.
I DO have a problem with restricting the athletes voices. It would be one thing if the IOC payed athletes who made the Olympics. Then no problem. Make the rules as to what can be said and worn. No different than the NFL or NBA. But Olympians are not being paid by the IOC, yet still having their voice restricted. Olympic athletes are independent contractors NOT employees for their sponsors. If they want to say something about a sponsor than they should be allowed. Its how they get paid. It's rediculous to restrict what an athlete can say without payment. After all there is no Olympics without the athletes.