WORLDWIDE OLYMPIC Partner P&G has extended its support to the athletes of South Africa, agreeing a ten-year deal with the South African Sports Confederation and Olympic Committee (SASCOC).
While exact details of the deal will be revealed in the coming months, SASCOC president Gideon Sam has stated that financial support in the region of R50m ($6.6m) is required to fund the nation’s athletes in the lead-up to London 2012.
“When partnerships like this one are formed, one of the gaps in our funding structure is plugged,” said Sam at the press conference to announce the deal. “The most important thing is more assistance for our athletes.”
P&G’s sponsorship comes off the back of Sam calling for financial backers to come forward to support the South African Olympic effort, and as he suggests, additional money is still required from corporate partners.
The SASCOC receives most of its funding from the national state lottery and the Ministry of Sports and Recreation. An existing sponsorship deal with Chinese sports clothing company Erke, which will supply kit to South African athletes at both the London and Rio (2016) Olympic Games, is valued at around R25m ($3.3m).
As well as being an IOC TOP sponsor, the US-based consumer products company counts a select group of Team Great Britain athletes and US swimmer Michael Phelps in its London 2012 sponsorship portfolio.
By Luke Harman
Follow Luke on Twitter: @lukeharmanSBG