LOCOG Taps Adidas As Latest Major Sponsor Of 2012 Games

LOCOG has agreed to a deal worth over US$99.6M with adidas to become the third major sponsor of the 2012 London Olympics, according to David Bond of the London TELEGRAPH. The agreement will be formally announced on Thursday during a press conference featuring U.S. sprinters Tyson Gay and Allyson Felix. adidas joins Lloyds TSB and French energy company EDF, who paid around US$159.3M and US$99.6M, respectively, as top sponsors. The deal brings LOCOG “a step closer to realising the [US$3.98B] target they have set for staging the 2012 Games” (London TELEGRAPH, 9/18).