London 2012 lines up another big sponsor
06/09/2007 |
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London 2012 is on the verge of securing another major sponsorship deal for the Olympic project. It is thought that the organising committee will announce details of the deal shortly, possibly by the end of the month.
Lloyds TSB and EDF Energy are already signed up to the top-level sponsorship programme, which is crucial to the organising committee's chances of meeting its target of £2bn in revenue, and a third major player will be revealed imminently.
In a further sign that the commercial programme is proceeding well, the London organising committee hopes to have at least two further top-line partners by the end of the year, leaving just three to fill. London have announced they are seeking sponsors in eight categories and, with banking and utilities already taken, vacancies remain in the sportswear, airline, automotive, telecoms, oil and gas, and clothing and homeware categories.
The chief executive, Paul Deighton, intends to have all eight signed up by the time the Beijing Olympics start next summer, making London the first city to have its commercial programme so well advanced four years before the Games.
London have been pleased with the interest in the opportunity, and maintain that the sponsorship represents value for money even though at roughly $100m (£50m) a London-specific sponsorship costs around the same as a global deal with the International Olympic Committee.
Darling of the Games
In a clear indication of the government's Olympic priorities the chancellor of the exchequer, Alistair Darling, has replaced Jack Straw as chairman of the cabinet committee that monitors the project. Straw, now the justice minister, chaired "Miscellaneous 25" from the inception of the bid until Tony Blair's departure from No10 but, with concerns over the Games budget dominating government thinking, Gordon Brown has asked his successor at No11 to take control.
(Source: Guardian.co.uk)
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