USOC optimistic on financing deal with IOC

The head of the U.S. Olympic Committee says he’s optimistic he

can reach an agreement with the IOC about financing future

games.

Dow Chemical Co. and Procter & Gamble Co. announced new

10-year sponsorship deals with the International Olympic Committee

last month, which USOC chief executive Scott Blackmun said will

help boost revenue.

”It gives us revenues we didn’t have before so in that sense it

kind of makes the pie bigger for everyone,” Blackmun said in a

telephone interview Monday.

The two sides are negotiating how much the USOC should pay

toward the administrative costs of staging the Olympics, a first

step toward a possible revision of the revenue-sharing

agreement.

”On that issue (the cost of the games) and other revenue

issues, we feel very optimistic,” Blackmun said. ”We’re still

working in good faith with the IOC.”

The sides agreed last year to begin negotiations in 2013 on a

new revenue-sharing formula to go into effect in 2020.

Currently, the USOC gets a 20 percent share of global

sponsorship revenue and a 12.75 percent share of U.S. broadcast

rights deals.

Adding Dow and P&G gives the 2012 London Olympics 11

top-tier sponsors, including Acer, Atos Origin, Coca-Cola, GE,

McDonald’s, Omega, Panasonic, Samsung and Visa.