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SBD Global/February 21, 2014/Olympics
On Heels Of Vancouver Games, Canadian Olympic Movement Enjoys Growth
Published February 21, 2014
FINDING NEW SUPPORT: Overholt said, “Two things happen in Olympic host nations after a Games. Government support stops, and the private sector has exhaustion around the Olympic movement. It was the opposite in our case. In the two or three years after Vancouver, we were able to grow the revenue from the private sector.” In addition to corporate support, Canadian Olympic sports also get government funding. The government started a non-profit program called “Own the Podium” before the Vancouver Games to fund Olympic hopefuls in their pursuit of medals. It’s continued to fund that since '10. The most important corporate partners the COC has signed since Overholt arrived are Hudson’s Bay and adidas. Hudson’s Bay develops apparel for the team, and adidas develops footwear and performance apparel. The two have helped build the COC’s licensing business, which Overholt expects to be a $5M-$10M business annually in the coming years. Overholt: “In Canada, that’s big business. That rivals major sports brands” (More at SBJ's On the Ground Blog).