EDF Named Second Sponsor of London's 2012 Olympic Games
11/07/2007 |
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Electricite de France SA, Europe's biggest power producer, became the second sponsor of the 2012 Olympic Games in London, helping organizers meet the event's 2 billion-pound ($4 billion) operating costs.
Financial details were not revealed. Lloyds TSB, the first sponsor, paid about 80 million pounds. EDF also will work with the games to improve energy efficiency and reduce waste, the London 2012 organizing committee said in an e-mailed statement today.
Organizers aim to raise a third of the operating costs from five to eight corporate sponsors. The remainder is planned to come from ticket sales and television rights. Taxpayers and lottery cash will pay the 9.3 billion pounds of construction costs.
``This deal is a valuable investment in the international development of our brands in our key markets,'' said Pierre Gadonneix, chairman and chief executive of EDF, in the statement. ``It will help inspire our customers and our employees across the EDF group.''
The games' organizing committee is ``delighted'' with its newest sponsor, said Chairman Sebastian Coe. EDF's U.K. unit supported the London bid in 2004, he said.
Under the agreements, EDF and Lloyds gain marketing rights to the games and become official partners of the Great Britain Olympic and Paralympic teams for Beijing 2008 and Vancouver 2010.
The companies will be allowed to use the 2012 logo and Olympic images such as the five rings in their domestic marketing campaigns. The International Olympic Committee has 12 so-called TOP sponsors that have the worldwide rights.
(Source: Bloomberg.com)
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