London 2012’s sponsors continue to line up

British Airways and British Telecom have been confirmed as the latest Tier One sponsors of London 2012, each contributing around £50m of support. Deloitte has been confirmed as London 2012’s first Tier Two sponsor.

Signing up such sponsors, or ‘official partners’ as they are known, is critical as LOCOG (the London Organising Committee of the Olympic Games and Paralympic Games) is a private sector company with a £2 billion budget, with almost all of that to be raised from the private sector.

This commercial revenue will come from several sources, with LOCOG receiving income from the International Olympic Committee (IOC) as well as generating its own income from sales of tickets, merchandise and, most importantly, the domestic sponsorship programme within which now include British Airways, British Telecom, and Deloitte.