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HE'S FELT A SPONSOR'S PAYNE: NATIONSBANK INKS OPUS DEAL
Published January 8, 1998
NationsBank and the USOC announced today that NationsBank has renewed its partnership with the USOC through 2004. Under the terms of the deal, NationsBank will be the official banking sponsor under the OPUS banner, the joint marketing arm of the USOC and SLOC. The deal makes NationsBank an official sponsor of U.S. Olympic and Pan American Games teams through 2004, as well as the Winter Games and Paralympic Winter Games in Salt Lake City The deal also includes a $170M line-of-credit to SLOC to assist in underwriting the staging of the 2002 Games (OPUS). In Salt Lake, Jay Baltezore reports sources said that the sponsorship "calls for cash payments and in-kind services in excess of" $50M. NationsBank is the seventh sponsor to ink the integrated OPUS deal (SALT LAKE TRIBUNE, 1/8). AD AGE reports that the deal "could exceed" $100M (AD AGE, 1/7). NationsBank Vice Chair -- and former ACOG CEO -- Billy Payne, helped on the deal. USOC Deputy Secretary General John Krimsky, on how Payne may be directly involved: "I think the bank is going to rely on him to give his thoughts [on] how to activate a sponsorship" (USA TODAY, 1/8).