Cincinnati: The Procter & Gamble Co, the world’s largest advertiser, has signed on to be a major sponsor of the US Olympic Team for the upcoming winter and summer games.
The deal announced on Tuesday comes as a big boost to the US Olympic Committee’s (USOC) efforts to attract sponsors in a recession.
Financial details weren’t released, but such deals with companies of this size are usually worth at least $15 million. Cincinnati-based P&G will be a corporate partner and sponsor for the US teams at the Vancouver 2010 Winter Games and London 2012 Summer Games.
The Olympics tie-in involves 17 P&G brands, from skin care to shampoo to snacks.
“It’s a very significant announcement for us,” said Lisa Baird, USOC’s chief marketing officer. “It goes to the depth of marketing that a company like Procter & Gamble can bring to our athletes and the Olympic movement.”
The USOC recently lost General Motors and The Home Depot as sponsors and is trying to renew deals with Bank of America and AT&T. The federation had previously signed smaller deals with Ralph Lauren, Acer, Adecco and Deloitte.
Baird said more sponsorships are in the works and that the addition of P&G could help attract others.
“Obviously, Procter & Gamble is a leading marketer, and other companies look to them,” she said.
The deal includes individual athlete partnerships; digital, print and television advertising, and Team USA-logo merchandising.
P&G brands have had had smaller Olympic sponsorships before, including of US gymnasts in the Beijing Summer Games in 2008, but P&G officials said this will be their most extensive Olympics involvement.
Kirk Perry, P&G’s vice president for North America, said the company was attracted by the Olympics’ strong appeal for women, teens, 18-to-34-year-olds and other key demographic groups.