Britain's Olympic And Paralympic Sports Pooling Commercial Rights Into Independent Company
Britain’s Olympic and Paralympic sports are "pooling their commercial rights into an independent company" that will market them collectively, hoping to make it easier for potential sponsors to buy into the post-games feelgood factor, according to Roger Blitz of the FINANCIAL TIMES. About 80 sports governing bodies and related sports organizations, including the British Olympic Association, have "agreed to collaborate on rights deals rather than compete with each other for corporate backers." The idea of a not-for-profit British Sports Marketing Bureau is the brainchild of LOCOG Chair Keith Mills and is the "first initiative since the Olympics" to capitalize on the success of the Games. Mills said, "We want to capitalise on the back of the Games. We worry about losing the momentum of the Olympics." Creating the BSMB is a response to several companies which said that they "found the sports rights market confusing and ill-suited to their needs." It will act as a broker "offering companies a menu of commercial rights more geared toward their target markets" (FINANCIAL TIMES, 9/28).