The London 2012 Olympic bid has promised to spend over £3m on its marketing push next year to stimulate support for the Olympics in the UK.
The organisation has allocated ten per cent of its marketing budget, although the bid team expects to boost this war chest with free marketing and media services from companies keen to bring the games to London.
David Magliano, marketing director for the bid, says the Government is expected to contribute about £20m, while the organisation wants to find an additional £8m in sponsorship money.
Magliano says the bid is in advanced talks with a number of potential sponsors. He adds that he expects to sign between six and 20 sponsors for the primary sponsorship packages.
The search has been hampered by the fact that official sponsors of the International Olympic Committee are unlikely to back a specific city such as London, while Magliano is prohibited from signing rival brands of IOC’s partners, which include Coca-Cola, Samsung, McDonald’s and Kodak.
Barbara Cassani, chairman of the London 2012 Olympic bid, has sought legal advice on a Daily Telegraph story that quotes Cassani as saying that Prime Minister Tony Blair was not “bright”. Cassani has instructed lawyers to write to the newspaper demanding a full and complete apology.