2014 Glasgow Commonwealth Games Signs BP As Sponsor In Effort To Raise $154M

Oil company BP "has signed up as a sponsor of the 2014 Commonwealth Games in Glasgow" as organizers seek to raise £100M ($154M) toward the cost of staging the multi-sport event, according to Keith Weir of REUTERS. BP, which backed the London Olympics last year, "will also provide fuel for Glasgow 2014 Games vehicles." Top-tier sponsors such as BP will be able to display their brands at Commonwealth Games venues -- "something not allowed at the Olympics." The Games have a budget of just over £470M ($723M), and organizers aim to raise £100M ($154M) through commercial deals -- "tickets, sponsorship, broadcast deals and merchandising" (REUTERS, 6/24). The SCOTSMAN reported BP "will also become a partner of Team Scotland and Team England at Scotland's largest ever multi-sport event." BP will launch a mentoring scheme for 65 young people aged between 17-21 "to develop their workplace skills" (SCOTSMAN, 6/24).