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ACOG officials unveil this week a "slate of new corporate sponsors whose cash and products will go a long way toward closing in" on their $1.6B revenue target. The half-dozen companies include a mix of Olympic veterans, such as Reebok, and unusual newcomers, such as "cosmetic" giant Avon. GM announces tomorrow that it has taken over the official domestic car sponsorship from Chrysler. Because no car company wanted to ante up $40M, the category was split. Mercedes-Benz will be the Official Foreign Car of the Games. Motorola will provide secured telecommunications security that it values at upward of $60M, making them an Olympic Partner ($40M+ contributor). After turning down an offer more than two years ago to be the official apparel and shoe partner, Reebok appears to have signed on as a licensee. The company will roll out a line or two of sneakers adorned with the Olympic rings. Reebok financial commitment is unclear. Nike is the official shoe of the U.S. Track & Field team (Melissa Turner, ATLANTA CONSTITUTION, 3/8).
NationsBank announced its Olympic Sponsorship program yesterday that will include more than 50 major sporting events before the '96 Games. Included in the program is a 14-city, 32- game USA Baseball tour, the '96 Men's Marathon Trials & the NationsBank Pan Pacific Swimming Championships. In addition, the bank will raise $500,000 between now and the Games for the NationsBank Hometown Hopefuls program, to supplement funds already provided to athletes through the company's Olympic sponsorship (NationsBank). NationsBank Chair Hugh McColl, on their Olympic budget: "My guess is somewhere between $80 million and $100 million." McColl also said the company would not slow its Olympic efforts: "We will actually accelerate from here. In order for us to get the maximum from our sponsorship, we need to drive it to the finish line" (ATLANTA CONSTITUTION, 3/8). SURFING W/NATIONSBANK: NationsBank also announced yesterday that they've established a permanent residence on the Internet. The bank will make Olympics-based information accessible online. The NationsBank internet World Wide Web address is: http:/wwww.nationsbank.com. (Nationsbank).