Olympic body begins sponsorship tenders

Potential sponsors for the 2012 London Olympic Games will start tendering for partner status from next month.

The London Organising Committee for the Olympic Games and Paralympic Games (LOCOG) is looking for sponsors in six sectors: banking, insurance, utilities (electricity and natural gas), oil and gas, automotives and telecommunications.

Companies in the banking and insurance sectors will be the first to have the opportunity to tender. Tenders for the remaining sectors will be issued before Christmas.

Money raised through the sponsorship deals will make an important contribution to the 2bn cost of staging the Games.

The first successful partner companies are expected to be announced before the end of the current financial year in March 2007, enabling them to maximise the benefits of their association with the Games over a period of five years.