Other website sections

»Jobs in sport

»Tenders

»Directory

»Conferences

The International Olympic Committee has lost another sponsor and is struggling to find replacements because of the financial crisis.

Johnson & Johnson, the world's largest healthcare company, this week dropped out of the so-called TOP sponsorship program that included 12 companies for the Beijing Olympics. For the next cycle through London 2012, nine companies are signed up.

``We are working with possible new sponsors for this program,'' Gerhard Heiberg, chairman of the IOC's marketing commission, said in an e-mail. ``We have a great interest for the Olympic property but these days it is hard to sign anything.''

Lenovo Group Ltd., Manulife Financial Corp. and Eastman Kodak Co. also ended their contracts after the Beijing Games. Acer Inc., the world's third-largest computer supplier, signed up to replace Lenovo in December 2007.

The TOP sponsors, which include the Coca-Cola Co. and General Electric Co., paid an average $72 million for the rights to associate their brands globally with the five-ringed Olympic logo over a four-year period including the 2006 Torino and 2008 Beijing Olympics.

J&J; ended its sponsorship because of the economic slowdown and the expiration of key patents in coming years, the Sports Business Journal reported Nov. 17.

Some Chinese companies that took out domestic sponsorships for the Beijing Games remain ``in the picture'' as possible IOC international sponsors, Heiberg said, without identifying them.

``But it may take some time before we can draw any conclusions,'' he added. ``It is not easy these days with the financial crisis as a background. However, we are optimistic.''

IOC President Jacques Rogge said in August he expected Olympic sponsorship revenue to increase about 16 percent to $1 billion for the Vancouver 2010 and London 2012 Games.

(Source: Bloomberg)