Procter & Gamble Co., the world’s largest advertiser, has signed on to be a major sponsor of the U.S. Olympic team for the upcoming Winter and Summer Games.
The deal announced today comes a month after the maker of Tide and many other consumer products agreed to a major NFL sponsorship. It’s also a big boost to the U.S. Olympic Committee’s 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 US$15 million. Cincinnati-based P&G will be a corporate partner and sponsor for the U.S. teams in the Vancouver 2010 Winter Games and London 2012 Summer Games.
The Olympics tie-in involves 17 P&G brands, from Olay skin care to Pantene shampoo to Pringles snacks.
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.
Lisa Baird, USOC’s chief marketing officer, 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.
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.
“We always talk about meeting our consumers where they are, and this is certainly where they are,” Perry said.
