March 10, 2011: Citigroup, one of the nation's largest financial services institutions, has signed a deal to become the official bank sponsor of the U.S. Olympic Committee and the 2012 U.S. Olympic and Paralympic Teams, which will compete in London.
Financial terms were not disclosed.
The deal is also with NBC Olympics, which has exclusive broadcast rights to the 2012 Summer Games. Citi’s agreement includes television and digital advertising, events and promotional opportunities.
“Supporting the Olympic and Paralympic dreams of America's athletes is one way we can show appreciation for the support of the American people," Vikram Pandit, CEO for Citi, said in a statement. “The Olympic Games are more than just sporting events. They are one of the world's premier venues for showcasing excellence and dedication, two of the values that guide us every day."
The USOC is on a marketing roll, having added TD Ameritrade as a sponsor in February.
Other USOC sponsors include Coca-Cola, Acer, Anheuser-Busch (Budweiser), AT&T, Atos Origin, BMW NA, BP, Dow Chemical, GE, McDonald's, Omega, Procter & Gamble, Samsung, Visa, Nike, 24 Hour Fitness, Allstate, Hilton, Adecco, Deloitte, Tyson, United Airlines and Jet Set Sports.
Among Citi's other sports alliances is a 20-year, $400 million naming rights deal to the New York Mets Citi Field.
"The Olympic Games . . . are one of the world's premier venues for showcasing excellence and dedication, two of the values that guide us every day."
Citi’s sponsorship agreement with the USOC and NBC, the official U.S. broadcaster of the Olympic Games, is "part of an innovative, new collaboration between NBC Olympics and the USOC, through which the organizations have brought forth an integrated marketing and media package to the Olympic Games," according to the USOC.
"We look forward to sharing the excitement and competitive spirit of the London Games with our clients, colleagues and community partners across the country," said Pandit.