Chicago, IL (PRWEB) July 26, 2008
With just weeks to go before the Beijing Games get underway, a new Olympic record has already been set: the highest sponsorship revenue ever captured by a host organizing committee.
If, as the Beijing Organizing Committee for the Games says, the Games are set to reach their goal of $1 billion in revenue it means the "domestic sponsorships"--deals that are for just the rights to the Games themselves and which can only be promoted within China--have brought in $740 million.
The Games' share of the IOC's worldwide TOP sponsorship program is $260 million, bringing the total to $1 billion.
To put it in perspective, the $740 million is just shy of the domestic sponsorship revenue pulled in by the last summer Olympics--Athens 2004--and the last Games held in the U.S.--the Salt Lake City Winter Games--combined. Those two organizing committees together secured $796 million in domestic sponsorship revenue.
"Without a doubt, BOCOG has taken sponsorship spending to new heights for a host organizing committee, an accomplishment that reflects the growing importance of China on the international stage," said William Chipps, IEG Sponsorship Report's senior editor.
BOCOG has 11 Partners, its highest level. The estimated average fee is $40 million, although it has been reported Volkswagen AG is paying $100 million for its deal and Adidas AG $80 million.
BOCOG also has 10 Sponsors, each paying an estimated $20 million to $30 million. Those companies include Anheuser-Busch, Inc.'s Budweiser and United Parcel Service, Inc.
In addition, the organizing committee has inked exclusive supplier deals with 15 companies--including Aggreko plc; Mars, Inc.'s Snickers; and Staples, Inc.--as well as 15 non-exclusive suppliers.
About IEG, LLC
IEG is the world's leading provider of independent research, consulting, training and analysis on sponsorship. Founded in 1981, IEG provides corporations and properties with the strategies and tools to harness the sales and marketing power of sports, arts, entertainment and cause marketing.
IEG offers services that include sponsorship consulting, competitive intelligence and valuation. IEG also publishes IEG Sponsorship Report, the international biweekly newsletter on sponsorship; the IEG Sponsorship Sourcebook, the definitive guide to sponsors, properties and agencies; and other industry publications and sources.
IEG also is the leader in sponsorship training. Its internationally renowned Sponsorship Conference, now in its 26th year, attracts a capacity crowd of delegates each year. Through its conferences, seminars and webinars, IEG has trained more than 45,000 sponsorship executives worldwide.
For more information about IEG and the sponsorship industry, please visit http://www.sponsorship.com or call 800/834-4850 (outside the U.S. and Canada, 312/944-1727).