BT is understood to be close to signing up as the second domestic sponsor of the London 2012 Olympic Games in a deal that could be worth up to £80m.
Lloyds TSB was confirmed as the first tier-one sponsor last week and sources say BT is in the final stages of talks to become the official telecoms partner. The company was one of the sponsors of the 2012 Olympic bid.
Sponsorship of the 2012 Games is divided into three tiers and the London Organising Committee of the London Games (LOCOG) is looking to sign deals with companies in seven other sectors after the Lloyds deal: insurance, utility services, oil and gas, automotive, telecommunications, aviation and sportswear.
BT has long been considered the frontrunner for the telecoms spot, although Vodafone was also believed to be considering the deal. BT and LOCOG declined to comment on suggestions that a deal is imminent.
Lloyds and, potentially, BT will be able to use their brands in conjunction with the 2012 logo and as backers of Team GB for the next six years, including at the Beijing Games in 2008.
Meanwhile, London 2012 is thought to have appointed experiential agency Live Communications to its below-the-line roster. The Omnicom-owned agency will stage a £2m event in May at which the new identity for the 2012 Olympic Games will be unveiled. More sponsors are expected to be announced at the event. Live is understood to have pitched against Imagination and Jack Morton to win the business. Live previously worked on the 2012 Olympic bid and will now work with LOCOG (London Organising Committee of the Olympic Games) to move London from bid city to host city.