SBD/May 9, 2012/Olympics

BOA Hoping For Lottery Sponsorship To Help Fund Team GB At Olympics

The British Olympic Association (BOA) is "hoping to secure a late injection" of up to US$3.2M in Lottery funding “to help ensure the cost of sending a team to the London Olympics does not wipe out its reserves,” according to Paul Kelso of the London TELEGRAPH. Talks began in the past eight weeks between the BOA and Lottery provider Camelot “over a short-term sponsorship deal that could set a precedent for future direct Lottery funding of the organisation.” Team Great Britain's budget for ’12 is US$20.9M, the “majority of which comes from a joint marketing agreement" with LOCOG. The BOA “insists it is in a position to cover that, and can call on” reserves if required. If those reserves were to be used, however, “it would leave the organisation exposed.” A short-term deal with Camelot would “significantly reduce its exposure, though any agreement would have to be approved” by LOCOG. The BOA also hopes to “boost its income through sales of two ‘iconic’ items of licensed merchandise." The first is “a supporters’ scarf,” which went on sale in March, and the second, “a series of collectable Olympic medallions,” goes on sale today (London TELEGRAPH, 5/9).
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