Rio Olympics set to surpass sponsorship revenue of London 2012
Organizers for the 2016 Rio Olympic Games said they are on course to surpass the amount raised for the 2012 London Games in domestic sponsorship.
Renato Ciuchini, the chief commercial officer of the Rio Games, said it has already confirmed 2.6 billion reals ($1 billion) in sponsorship sales and will surpass the London total of $1.1 billion with almost two years to go.
Organizers expect the final figure will make up about half of the $3 billion operating budget for running the games but it is also spending another $20 billion to build new stadia and upgrade infrastructure.
Major domestic sponsors which have signed up include Banco Bradesco, Bradesco Seguros, Embratel, Claro, Nissan and state-owned postal service Correios.
However organizers have so far failed to bring on board premium sponsors in several key industries – airlines, utilities, oil and gas, mining and agribusiness.
Ciuchini said discussions in those industries are still ongoing but no major deals are imminent.
"We don’t believe they will come as tier one sponsors here," he said.
"Today we are doing very well without them."
Ciuchini said the Rio Games have signed 19 new contracts with smaller sponsors during 2014, and refuted claims that sponsorship rates are well overpriced.
"If we were that expensive, how could we sign 19 contracts in 12 months?" he said.
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