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SBD Global/November 20, 2012/Olympics

Infront-Ringier Look For Sponsors For Switzerland's 2022 Olympic Winter Games Bid

A joint venture between media corporation Ringier and sports marketing company Infront Sports & Media "is trying to acquire sponsors for Switzerland's 2022 Olympic Winter Games bid," according to SÜDOST SCHWEIZ. It is expected that sponsorship money will "cover about a quarter of the bidding costs." The Swiss state of Graubünden needs CHF60M ($63.7M) for its Olympic bid. The federal government "will contribute CHF30M ($31.8M), and the two biggest cities of the bid St. Moritz and Davos will contribute CHF5M ($5.3M) and CHF2M ($2.1M), respectively." In addition, Graubünden "will invest CHF8M ($8.5M)." The remaining CHF15M ($15.9M), or a quarter, "is supposed to come from sponsorship deals." Infront-Ringier has received the corresponding assignment from Swiss Olympic. Ringier CEO & Infront-Ringier Board of Directors VP Marc Walder is confident that they "will be able to acquire the necessary money." Asked if the Olympics bid is worth it, considering the difficult starting position with the IOC, Walder said: "First, the chances are still intact and second, just the fact to be a candidate for years to come has tremendous value" (SÜDOST SCHWEIZ, 11/16).
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