Once upon a time, the modern era of the olympics started, and it was all about sportsmanship and amateurs. That was a long, long time ago. 80 years ago, you could be suspended from entering the olympic event because you were suspected of earning a few bucks in races, and therefore not fulfilling the real amateur status. Remember what happened to Paavo Nurmi, one of the greatest runners of his time.
In these times, athletes competed under their country's flag,for the best or the worse (remember 1936).

But this is all history.

Nowadays, the olympics are a big business. 12 billions for London 2012. Sponsorship everywhere. Live TV. Big money. Laws can even be changed to accomodate the major sponsors, in a cyberpunk-like nightmare.
Yet, all the media still focus on the same medal rankings, ranked by nation, in a nationalistic, navel-centered frenzy. Why so?

Have you noticed that nearly all athletes sport two symbols on their chest during events and on the podium? On one side is a national symbol (often a flag). On the other side is a logo.
What would it look like to do a medal ranking by logo? Which corporations have the most gold medals, and how does this compare to the country ranking?
Hopefully, you can find on the web photographs from nearly all podiums, and count how many gold, silver, bronze for each logo. Yes, you can find it for more than 300 podium ceremonies. Here is the top 20 result. It is maybe not 100% complete or accurate, but still relies on more than 95% of all podiums in all sports I could find.

Rank

Logo

Gold

Silver

Bronze

Total

1

Adidas

71

69

79

219

2

Nike

50

40

42

132

3

Anta

38

26

23

87

4

Bosco

33

41

45

119

5

Fila

13

8

6

27

6

361 °

10

7

10

27

7

Asics

9

10

13

32

8

Mizuno

8

17

19

44

9

EA7

8

9

11

28

10

Lotto

7

6

8

21

11

Erke

7

6

6

19

12

Puma

7

5

4

16

13

Peak

5

4

2

11

14

Alpine Pro

4

4

6

14

15

2XU

3

0

2

5

16

Jack Jones

2

3

3

8

17

4F

2

2

6

10

18

Audimas

2

1

2

5

19

Phenix

2

1

0

3

20

Hudson's Bay co.

1

3

11

15

Comparing it to the traditional medal table is quite interesting. Big corporations do much better than nations at collecting medals. Adidas and Nike, the two main sponsors of the 2012 games, outwin any country. Adidas alone has more medals in total (219) than the USA and China combined (192) !

So now imagine for a moment the Olympic games a few years from now. In a time when not only nations, but big corporations will be members of the Olympic committee, and make the opening ceremony with a team of international athletes groupped under the company's flag, with the company logo on their chest.
This is not a cyberpunk nightmare.

This is not the future. This is already happening.