London 2012 to hit sponsorship target by end of 2010 05/11/2010 |
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Organisers of the London Olympics have said they will hit their sponsorship target by the end of this year.
Paul Deighton, the chief executive of the London Organising Committee of the Olympic Games (LOCOG), revealed it would hit the upper limit of its pre-Games target of £700m by the end of 2010, once a handful of deals with suppliers have been tied up.
The £700m figure represents roughly a third of the £2bn LOCOG needs to stage the Games.
Organisers targeted sponsors in 2005, soon after winning the right to host the event. Most of the Games' sponsorship revenue was secured before the global economic crash.
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