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US Olympic Committee Secures 18 Corporate Sponsors Amidst Economic Uncertainty

Strategic Insights

— 1 min read

The United States Olympic Committee (USOC) has navigated economic instability by securing 18 corporate sponsors for the next four years, building upon the momentum generated by the 2008 Beijing Games and anticipation for 2010 in Vancouver. This diverse group of partners includes Allstate, Anheuser-Busch, Hilton, Jet Set Sports, Nike, Tyson Foods, United Airlines, 24 Hour Fitness, and Deloitte, a certified public accounting firm, which joined the USOC in this sponsorship cycle. Notably, the USOC has also maintained renewal discussions with AT&T and Bank of America, while looking to fill the void left by departed sponsors General Motors, The Home Depot, and Kellogg's.

Key Takeaways:

  • The USOC has secured 18 corporate sponsors for the next four years, with a total sponsorship value estimated to be in the range of $160 million to $240 million.
  • The USOC has maintained renewal discussions with AT&T and Bank of America, despite General Motors and The Home Depot's departure.
  • The loss of Home Depot's sponsorship resulted in 86 fewer American athletes participating through the Olympic Job Opportunities Program.
  • General Motors' sponsorship netted the USOC approximately $90 million over 12 years.
  • Sponsorships comprise more than a third of the USOC's annual budget, which has been reduced to $135.5 million due to cost-cutting measures.
  • The USOC benefits from nine International Olympic Committee sponsors, including Coca-Cola, General Electric, and Visa, worth a combined $900 million.

Statistics:

  • 18 corporate sponsors have partnered with the USOC for the next four years.
  • Sponsorship value is estimated to be between $160 million and $240 million.
  • 54 people were laid off in cost-cutting measures that reduced the USOC's budget by 7.1 million dollars.
  • The USOC's annual budget now stands at $135.5 million.
  • The International Olympic Committee sponsors have a combined value of $900 million.
  • 21% of respondents in a Lieberman Research Worldwide study were more likely to use products of USOC sponsors, compared to 11% for NFL-endorsed products.

Sources:

  • "USOC meets, but doesn't exceed, sponsorship goals." By Brian Gomez, The Gazette, Colorado Springs, Colo., http://www.gazette.com Apr 8, 2009.
  • Attribution note: The original source material dates the article Apr 8, 2009.

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