IOC Marketing Chief "Very Happy" With GE Sponsorship Renewal

(ATR) Gerhard Heiberg, head of the IOC's marketing commission, tells Around the Rings that GE's extension of its TOP partnership through 2020 is "very good news" for the Olympic Movement. He reveals that talks are underway to conclude similar deals with Acer and McDonald’s.

GE today extended its worldwide partnership, as first predicted by Around the Rings two weeks ago. The agreement was signed in Moscow. It gives GE sponsorship rights for the Sochi 2014 Winter Olympics, Rio 2016 Summer Games and the Olympics in 2018 and 2020.

"We are very happy. We have a good relationship with GE. This is very good news for us," he told ATR.

Commenting on possible sponsorship renewals with Acer and McDonald’s, Heiberg said: "They are interested, so we are talking.

"We want to extend to Sochi 2014 and 2016, maybe 2018 and 2020.

"We hope to find a solution with them before too long but we are not in a hurry."

The IOC member from Norway said he was seeking to conclude new agreements with the two TOP sponsors "within a couple of months".

Heiberg also told ATR that he was working to finalise an additional TOP partner for the London 2012 Olympics within the same time frame.

The 11 global sponsors for London 2012 are: Coca-Cola, Acer, Atos Origin, Dow, GE, McDonald’s, Omega, Panasonic, P&G, Samsung and Visa. He has previously talked about his ambition to bring another on board and pass the $1 billion mark in 2012 TOP sponsorship revenues; the figure is currently around $960 million.

"We are still talking to companies and in a couple of months time I hope to reach a deal with one more company," he said.

IOC President and Sochi 2014 Chief Welcome GE Deal

GE’s Olympic partnership first launched in January 2005 with high-tech solutions provided for Torino 2006, Beijing 2008 and Vancouver 2010. It will offer a similar package of services at next year's Games.

Under the terms of GE's deal,the US-based multinational will continue as the exclusive provider of a wide range of innovative products, technology and services integral to staging a successful Olympics.

GE joins Coca-Cola, Dow, Omega, P&G and Visa as the IOC's global partners through 2020.

The value of GE’s sponsorship from 2005 to 2012 was not disclosed, but is estimated to be around $180 million. While financial details of the new eight-year deal to 2020 were not disclosed, it is thought they have topped that figure.

IOC president Jacques Rogge welcomed GE’s continued commitment to the Olympic Movement.

"GE is a leading organisation, with innovation and sustainability at its core. Over the years, GE has become a vital part of the efforts to deliver sustainably responsible Olympic Games. We are delighted to continue our work with them," Rogge said in a statement.

Jeff Immelt, chairman and CEO of GE, said: "We are proud to be extending our partnership with the Olympic movement for another eight years.

"The Olympic Games provide a unique opportunity to showcase our innovative technologies and services. Hosting a successful Olympic Games is a transformational opportunity for every host city. We are committed to working with the IOC and the local Organizing Committees to deliver world-class infrastructure solutions and a sustainable legacy to future generations."

Sochi 2014 president and CEO Dmitry Chernyshenko was at the sponsorship signing ceremony in Moscow today with Russia's Olympics tsar Dmitry Kozak. Heiberg is already in South Africa for work with the NOC ahead of next week's IOC Session in Durban.

The IOC was represented by Timo Lumme, its director of TV and marketing services.

Chernyshenko welcomed GE's support for the 2014 Winter Games.

"As GE and Sochi 2014 both have innovations at the core, I'm sure we'll enjoy our cooperation on the way to the most innovative Games in 2014," he tweeted.

GE’s Olympic sponsorship category includes: energy generation systems; energy distribution systems; diagnostic imaging; monitoring and electronic medical records technology; lighting fixtures and systems; aircraft engines; rail transportation; water treatment facilities and services; and equipment and transportation management.

Written by Mark Bisson