GM Says Partnerships With GM Place, VANOC Will Remain Intact
General Motors (GM) yesterday said that it "remains fully committed to keeping its name on GM Place in Vancouver and staying on as a national partner of the 2010 Olympics" despite the current economic crisis, according to Bruce Constantineau of the VANCOUVER SUN. GM Canada PR Dir Stewart Low said that GM "clearly wants to cut costs now, but the two Vancouver-based sports partnerships are too important to eliminate." Low: "We are hugely committed to the Olympics and will do everything in our power to continue on with that. And the same thing goes with GM Place." Constantineau notes GM has "recently backed away from other sports sponsorships," including two NASCAR tracks and the USOC. GM Canada signed a 20-year, C$18.5M deal with the Canucks in '95, while the company's partnership with VANOC includes C$14M cash and C$53M "worth of vehicles, services and marketing support" (VANCOUVER SUN, 11/20).
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