USOC signs key sponsorship deal with BP
(AP) — The U.S. Olympic Committee has agreed to a multimillion-dollar sponsorship deal with the BP petroleum company that will last at least through the 2012 Games.
On Monday, the USOC will officially announce the agreement that will make BP one of its major partners. Those contracts are usually worth between $10 million and $15 million over a four-year period.
BP has recently focused heavily on environmental issues — a topic Olympic leaders have long touted as one of their top priorities.
The USOC announcement is considered a victory in a rough economic climate. The federation recently signed Procter & Gamble to a significant deal and is looking to make up for the loss of some key sponsors after the Beijing Olympics.
