Detroit: Procter & Gamble Co said it has signed on to sponsor the next five Olympic Games in a 10-year multimillion-dollar deal that will take it through 2020.
The partnership, announced with the International Olympic Committee, starts with the 2012 Summer Olympics in London. Financial terms were not disclosed, but top Olympic sponsors can spend up to $100 million in cash and in-kind services over a four-year period.
Olympic sponsors have exclusive global marketing rights for the widely watched events.
P&G’s deal comes less than two weeks after Dow Chemical Co signed on as part of the Olympic Partner programme, also known as TOP. Dow’s deal also runs through 2020.
P&G becomes the 11th participant in the TOP program, joining such companies as McDonald’s Corp and General Electric Co. IOC officials said after the Dow deal that they were confident of adding two more major sponsors before the London Games, but the maximum total was 12.
The P&G brands participating in the partnership include Pampers, Tide, Ariel, Always, Whisper, Crest, Pantene and Olay, the company said.
P&G is already a sponsor of the US Olympic team, a deal it said increased the company’s image, helped boost market share and generated nearly $100 million in sales.