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Wednesday
June 3, 2009
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USOC To Open Talks To Fill Vacancy Created By Bank Of America

By Tripp Mickle, Staff Writer, SportsBusiness Journal

The USOC plans to begin talking to other financial institutions in an effort to find a new official bank following Bank of America's decision to end its sponsorship of Team USA. USOC CMO Lisa Baird in an e-mail said, "The USOC remains a great investment and this opening provides us the opportunity to enter into discussions with leaders in the banking sector. We remain confident that we will close additional categories." News that BofA would be leaving the USOC broke yesterday. The move ended a 16-year sponsorship and relationship with the USOC that Baird characterized as "mutually productive and rewarding." Of the bank's decision, Baird said: "Everyone understands the impact the economic climate has had on BofA and why they have come to this difficult decision."

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