US Olympic Committee Seeks Corporate Partners Amid Economic Instability

Strategic Insights -

Despite an unstable economy, the United States Olympic Committee remains active in its search for corporate partners, capitalizing on momentum from the 2008 Beijing Games and excitement toward the 2010 Vancouver Olympics. The Colorado Springs-based USOC has signed 18 new sponsors for the next four years, replacing those who have left, including General Motors, The Home Depot, and Kellogg's. The USOC continues to discuss renewal contracts with AT&T and Bank of America, while pursuing new partnerships to fill the gaps left by departing sponsors.

Key Takeaways:

  • The USOC has signed 18 new sponsors for the next four years, including Allstate, Anheuser-Busch, Hilton, Jet Set Sports, Nike, Tyson Foods, United Airlines, 24 Hour Fitness, and Deloitte, a certified public accounting firm.
  • The organization has lost sponsors such as General Motors, The Home Depot, and Kellogg's, but has gained new partners like Deloitte, a certified public accounting firm.
  • USOC sponsors typically pay $10 million to $15 million for four-year deals, with the organization benefitting from nine International Olympic Committee sponsors, worth a combined $900 million.
  • Sponsorships fuel over a third of the USOC's annual budget, which was reduced by $7.1 million to $135.5 million last month due to cost-cutting measures.
  • The USOC continues to discuss renewal contracts with AT&T and Bank of America, which provided financial support for 12 athletes in Beijing and committed $3 million in high-tech improvements to the Olympic Training Center.
  • A Lieberman Research Worldwide study conducted after Beijing found that four in five respondents remembered at least one USOC sponsor advertisement, and 21 percent said they were more likely to use products of USOC sponsors.

Statistics:

  • $10-15 million: Typical sponsorship contributions from USOC partners
  • $900 million: Combined value of sponsorship from nine International Olympic Committee partners
  • $135.5 million: Reduced USOC annual budget due to cost-cutting measures
  • $7.1 million: Amount of budget reduction
  • 54: Number of USOC employees laid off during cost-cutting measures
  • 21%: Percentage of respondents more likely to use USOC sponsor products
  • 11%: Percentage of respondents more likely to use NFL-endorsed products

Sources:

  • "BY BRIAN GOMEZ, bgomez@gazette.com - Despite an unstable economy, the U.S. Olympic Committee remains active in its search for corporate partners..." - [www.coloradoan.com](http://www.coloradoan.com) (no date provided)
  • "Lieberman Research Worldwide study conducted after Beijing" - [www.liermanresearch.com](http://www.liermanresearch.com) (no date provided)
  • "USOC spokesman Darryl Seibel said" - [www.teamusa.org](http://www.teamusa.org) (no date provided)