By Tripp Mickle, Staff Writer, SportsBusiness Journal

Organizers of the '15 Pan Am Games in Toronto unveiled their official logo yesterday at a launch party in front of the Air Canada Centre. The unveiling is the first step in organizers' efforts to raise awareness for the event. Organizers hope to generate $150M in licensing, ticketing and sponsorship revenue from the Pan Am Games. They will be selling sponsorship packages that offer IP and activation rights across North and South America and signage in venues during competition. Toronto 2015 Pan Am Games CEO Ian Troop said, "We believe we have the opportunity to frame (sponsorship packages) against the Vancouver Olympics and make the Pan Am Games a bonified, viable event with unique value for sponsors." The local and federal government contributed $1B in funding for the Pan Am Games. Organizers plan to invest $700M in developing new facilities like an aquatics center and track and field venue. Organizers will put out an RFP for those projects and others in early '11.