USOC Remains Optimistic About Future Despite Losing Sponsors
 |
Scherr Says USOC Can Still Reach
Sponsorship Goals Despite Down Economy |
The USOC is "heading into an economically troubled year without several of its biggest and longest-standing sponsors," but the organization is "refusing to panic," according to Juliet Macur of the N.Y. TIMES. USOC CEO Jim Scherr: "We have one of the strongest, if not the strongest, brands in the world, and we believe that we will still have the ability to achieve our domestic and international sponsorship goals." Scherr: "Certainly, it may take a bit longer to negotiate contracts and it may take a little more effort, but we feel that we are extremely viable." Scherr added that television revenue from the '10 Vancouver Games and the '12 London Games -- "which will be about $255[M] for the USOC -- and a cash reserve of about $100[M] will help the organization make it through this downturn." Univ. of South Carolina professor of sport and entertainment management Peter Graham said that the USOC is "resilient enough to handle the loss of companies like Home Depot," which last week announced that it is ending its Olympic sponsorship. Graham: "I think companies are interested in those sponsorships because of the global aspect of the Olympics. When the Olympics are on, you're going to get worldwide exposure that only the World Cup series in soccer and maybe the Super Bowl gets. No other sporting event comes close. The USOC may not get the kind of money they want from each sponsor, but I believe they will get it if they add more sponsors or categories of sponsorship." 21 Marketing Founder & President Rob Prazmark, who works with the USOC, said that the Olympic brand in the U.S. is "strong enough to handle the crisis and had weathered bad times before." Prazmark: "Yes, we're having a bit of tough times these days, but smart companies know this investment is not just for '09. I think companies are planning for a better economy in '10, '11 and '12, when these sponsorships will still be in place. This also might be a perfect chance for companies to jump into sponsorships, when other companies might be too financially weak to do so" (N.Y. TIMES, 1/12).
|
Related Stories By Company
|
Related Stories By Sport
|
USOC Marks 100 Days Until Vancouver
November 4, 2009 :
SportsBusiness Daily
Polo Ralph Lauren Unveils U.S. Outfits
November 4, 2009 :
SportsBusiness Daily
USOC Looking For New CEO As '10 Games Near
November 4, 2009 :
SportsBusiness Daily
USOC Hires Firm To Aid With CEO Search
October 30, 2009 :
SportsBusiness Daily
Probst Pledges Commitment To USOC
October 28, 2009 :
SportsBusiness Daily
|
USOC Marks 100 Days Until Vancouver
November 4, 2009 :
SportsBusiness Daily
Polo Ralph Lauren Unveils U.S. Outfits
November 4, 2009 :
SportsBusiness Daily
Schiller: Olympic Sports Need Creative Deals
November 4, 2009 :
SportsBusiness Daily
USOC Looking For New CEO As '10 Games Near
November 4, 2009 :
SportsBusiness Daily
Furlong Gets VANOC Ready For Olympics
November 3, 2009 :
SportsBusiness Daily
|
|
