The IOC "has handed" Sydney's 2000 Olympic Organizers
(SOCOG) A$12M (US$7.6M) "in an admission that it's bribery
scandal had financially damaged" the Games, according to
English & Salom of the AUSTRALIAN DAILY TELEGRAPH. The IOC
has "agreed to reduce the commission it receives from future
sponsorship deals negotiated by SOCOG." Under the new deal,
a provision requiring SOCOG to pay the IOC 5% of any
sponsorship deal will be "waived." Instead, the commission
will "fluctuate" from 0-4% on a "deal-by-deal basis for the
remaining" US$146.5M SOCOG needs to meet its revenue target.
English & Salom: "In effect, it will allow SOCOG to sign up
new sponsors with a guarantee that none of the funds will
flow through the IOC coffers" (DAILY TELEGRAPH, 2/13).
AD INVENTORY 50% SOLD AT NBC: SPORTSBUSINESS JOURNAL's
Langdon Brockinton reports that NBC has begun making ad
sales presentations "to several import automotive companies"
for the 2000 Games, with a "goal" to cut ad deals with five
companies at $15M each. NBC has sold 50% of its ad
inventory for the 2000 Games via deals with less than 15
advertisers (SPORTSBUSINESS JOURNAL, 2/15 issue).
