(ATR) London 2012 organizers say they are hitting their sponsorship targets after naming British Telecom as the fifth major partner of the Olympics in a deal worth an estimated $160 million.
It means LOCOG chief executive Paul Deighton has exceeded his goal of securing 40 percent of the $1.3 billion sponsorship target by March. The sponsorships contribute to the $4 billion cost of staging the Games. BT will receive exclusive marketing rights and usage rights to the London 2012 logo within its sector. (BT)
BT's sponsorship ends months of speculation over its association with the Olympics. LOCOG says the partnership reinforces its vision to stage a 'Games for the Digital Age' in 2012.
"Technology and communication is going to be a vast operation, starting now and taking us all the way through to Games-time," said LOCOG chair Sebastian Coe.
"We needed a partner we could absolutely trust to work with us on this journey, one who could provide the technical know-how and creatively explore solutions and opportunities to ensure our Games are the very best they can be."
The announcement coincided with a two-day visit of International Olympic Committee inspectors to London for their biannual "project review", an informal check-up on the capital's preparations for the Games.
Coordination commission chair Denis Oswald and the IOC Olympic Games executive director Gilbert Felli concluded meetings with 2012 organizers on Mar. 5. The progress of sponsorship, venues and legacy were among the issues scrutinized.
BT is responsible for providing all communications services to LOCOG required to stage the Olympics and to the operational workforce and venues at Games-time.
The telecommunications giant, which backed the London bid to host the Games, joins British Airways, Lloyds TSB, EDF Energy and Adidas as top tier sponsors for 2012. Deloitte is the only second tier partner to date. BT Centre in London. (BT)
After EDF Energy, it also becomes London 2012's second 'sustainability partner'. BT will use the Games as a platform to discuss and drive the sustainability agenda.
"BT has supported London's bid to host the Games from the start, and the whole company is looking forward to working with LOCOG to ensure that 2012 is a fantastic success," said BT chairman Mike Rake.
Technology and communication at Games-time will be huge logistical operations. London 2012 organizers say BT will provide the secure, resilient and robust networks required for supporting the communications activities of LOCOG, Games bodies and other technology partners.
This will include the provision and management of voice and data networks, plus all the internet access and land lines required across London 2012 venues and facilities.
BT will also meet the individual communications requirements of the athletes, national Olympic committees and media, who will be able to purchase packages at pre-agreed prices.
LOCOG hopes to fill another three tier one sponsorship categories before the Beijing Olympics: oil and gas, automotive, clothing & homeware.
A grocery category could yet be created. But Coke, one of the IOC's TOP sponsors, is concerned that a London grocery sponsor would dilute its own promotional exclusivity, according to media reports.
London 2012 officials say fundraising is well ahead of any previous Olympics at this stage of preparations.
With reporting from Mark Bisson.
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