United Airlines has agreed to renew its sponsorship of the U.S. Olympic Team, signing an agreement to be the official airline of the USOC for the 2009-12 quadrennial. Sources valued the supplier-level deal in the $10 million range over the period of the contract. An announcement is expected later today.

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United has been a partner of the USOC’s since 1980. The organization lent support to the airline in 2006 when it was bidding for what at the time was the only nonstop flight between Washington, D.C., and Beijing. United went on to win that route.

The deal gives the USOC another partner with headquarters in Chicago, which is bidding for the 2016 Summer Games. McDonald’s, an IOC and USOC partner, also is headquartered there.

The deal caps a string of renewals announced by the organization during the Beijing Games. Allstate and 24 Hour Fitness also announced renewals during that period, joining Nike, Hilton Hotels and Anheuser-Busch in extending partnerships with the USOC through 2012.

The USOC still has partner-level renewals to negotiate with Bank of America, Home Depot and AT&T before the end of the year, and a supplier-level deal with Kellogg’s.