Allstate, Campbell Deals Put SLOC In Black For First Time

The SLOC, which was "once faced with a sea of budgetary ink, ... is — for the first time — in the black," according to Brady Snyder of the DESERET NEWS, who reported, "Olympic service and supply contributions this week from Allstate Insurance Co., and, to a lesser degree, Campbell Soup Co. totalled $6 million, putting the SLOC's books in a positive light." Snyder noted with Allstate and Campbell, the "sponsorship gap was lowered" from $53M to $47M, leaving the SLOC $9M in the black. SLOC CFO Nolan Karras said, "For the first time I have a 'contingency number' that's higher than the 'risk number.'" The risk number, which represents "unaccounted-for costs" in the SLOC's overall budget, has been set at $71M. Karras said costs include potential lawsuits, insurance claims, contract bids that are higher than expected and "numerous other things I haven't even thought about" (DESERET NEWS, 7/21). OPUS President Mark Lewis said that OPUS "is just two supplier agreements away from reaching its goal" of $859M in sponsorship dollars. Lewis also said that OPUS is "in advanced negotiations with a transportation company, potentially bringing" OPUS to its goal of $859M (Andy Bernstein, SBJ, 7/23 issue).

IMAGE CONSCIOUS: In a separate piece, the DESERET NEWS' Snyder wrote on Friday, SLOC organizers unveiled a new "look of the Games," which will include "gigantic images of athletes draped over downtown skyscrapers." As part of the new look, the SLOC will use $5.8M, "freed up by the IOC, to create the large-scale poster-like images of athletes on midtown skyscrapers, huge Olympic rings on the Delta Center and similar decorations on the E-Center" (DES. NEWS, 7/21).