Travel Companion: LOCOG Signs Thomas Cook To Sponsorship

LOCOG today formally announced travel company Thomas Cook has signed as a Tier Two sponsor. The company will provide travel and ticketing packages for both the '12 Olympic and Paralympic Games. The deal marks the 23rd domestic sponsor LOCOG has signed for the events and the sixth Tier Two sponsor (LOCOG). REUTERS' Avril Ormsby reports the deal is believed to be worth $32.85M (all figures US) and will see the company "provide more than 250,000 packages including accommodation, transport and event tickets for people attending the Games in east London." LOCOG officials last month announced they had "raised their sponsorship target" from $1.065B to $1.178B (REUTERS, 10/20). MARKETING WEEK's Russell Parsons reports the deal is part of LOCOG’s strategy to “ensure event arenas and stadiums are full during the Games.” The firm will promote the sponsorship on posters, brochures, in-flight magazines, airline promotional videos and on tickets (MARKETINGWEEK.co.uk, 10/20). Thomas Cook CEO Manny Fontenla-Novoa: "This is about much, much more than making money for us. We really believe in the Olympics in London, and being involved is very important to us. You can't put a value on that" (AROUNDTHERINGS.com, 10/20).

SOCHI SPONSORSHIP UPDATE: The AP's Stephen Wilson reported Sochi Games organizers "expect to surpass" the $1B mark in revenues from domestic sponsors for the '14 Games. Sochi 2014 CEO Dmitry Chernyshenko said that the Games have raised $850M so far "from seven top-tier sponsors." Chernyshenko also said that "three more companies are 'in the pipeline' and expected to sign on by the end of the year." The three categories yet to be filled are insurance, gas and railways (AP, 10/19).