The Australian Institute of Sport defended the A$500,000 ($437,700) "price tag on its new logo at Monday's unveiling, saying it would generate more commercial investment in the long term," according to the AAP. Australian Sports Commission CEO Simon Hollingsworth said that the "upfront cost had to be weighed against future corporate benefits." Hollingsworth: "We believe that in the medium and long term that this investment is going to generate significantly more revenue for the AIS, which will then be invested back into sport" (AAP, 2/3). In Sydney, Jon Tuxworth reported 1,500m dual Gold Medalist swimmer Kieren Perkins said that the "merit of the decision will be determined by whether it generates more revenue to help Australia climb the Olympic medal tally." The new logo "consists of five golden lines resembling tracks, sleekly curved into the shape of Australia." Hollingsworth was "adamant no athlete or sport has had their funding reduced due to the re-branding." Hollingsworth said, "No athlete or sport has had their funding reduced as a result of this and in the grand scheme of our total investment in sport, this investment is quite a small one" (SYDNEY MORNING HERALD, 2/4).
