The world’s largest consumer products company signed on as a global Olympic sponsor Wednesday, the second multi-million-dollar marketing deal this month for the International Olympic Committee.
IOC president Jacques Rogge confirmed the 10-year agreement with American-based giant Procter & Gamble Co. at a news conference in London.
P&G becomes the 11th global sponsor of the 2012 London Olympics, matching the number from the previous cycle that covered the 2006 Turin Winter Games and 2008 Beijing Summer Olympics.
Cincinnati-based P&G also announced an extension of its Team USA sponsorship through 2020. The company was a U.S. Olympic sponsor for the 2010 Vancouver Games and was already committed to sponsoring the team in London.
P&G’s global brands include Pampers, Gillette shavers and Pantene shampoo.
It’s the second Olympic sponsorship announcement in two weeks. Dow Chemical was confirmed as a global sponsor on July 16 in a deal that also goes through 2020.
Financial terms aren’t announced, but each IOC sponsorship deal usually sells for up to US$100 million for four years.
The IOC said this year it had secured close to $900 million in sponsorship revenue for the current four-year cycle, and was hoping to break the $1-billion mark.
Other global sponsors for the London Games are Coca-Cola, Acer, Atos Origin, GE, McDonald’s, Omega, Panasonic, Samsung and Visa.
Atos Origin, Panasonic and Samsung are signed up through 2016. Coca-Cola, Omega and Visa are signed up through 2020.
IOC sponsors have exclusive worldwide marketing rights to the Olympics.
