London 2012 closes in on sponsorship target 28/07/2010 |
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London 2012 chairman Lord Coe has revealed that the organising committee (LOCOG) is close to reaching its domestic sponsorship target of £700m.
Speaking at an event to mark the two-year countdown to the Games, Coe said: “We’ve raised well north of £600m. We’re very pleased with that, as it’s in the teeth of a really difficult economic environment, and all that money is discretionary spending.”
Coe insisted he was not concerned about BP’s Olympic sponsorship after the company announced the resignation of chief executive Tony Hayward following the Gulf of Mexico oil spill. BP has sponsored the London Games since 2008.
“BP are a great partner,” Coe added. “They’re a very important sponsor and have helped us a lot during the bid.”
When asked if a change in leadership may lead to a change in relations with the organising committee, Coe replied: “No.”
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