NBC/USOC Sign Citi as Official Bank of US 2012 Olympic Team
March 11, 2011
US broadcaster NBC and the United States Olympic Committee (USOC) have signed an official advertising and sponsorship deal with Citi for the London 2012 Games.
Under the terms of the deal which sources have valued at US$30m, the bank will become the official bank partner of the network and the 2012 U.S. Olympic team.
The partnership has been agreed as Citi plans to promote its 200th anniversary next year and the rights include retail, corporate, commercial and investment banking.
The deal is the second of three that NBC and the USOC hope to announce in the banking category with the parties having recently signed TD Ameritrade as an official online brokerage and continuing to source a wealth management partner as well.
This is the first time NBC and the USOC have partnered to sell an integrated package that includes media and marketing rights, and USOC officials are encouraged by the results of the collaboration, with CMO Lisa Baird stating: “Partners are responding to the integrated marketing and media package. We’re proud of both of these coming on and doing so in quick time is evidence this is working.”
The USOC has been without an official bank since 2009 when the Bank of America declined to extend its 16-year support of the organization.
NBC Vice-President of Olympic Sales Paul Wilson led NBC’s sales team and 21 Marketing Founder Rob Prazmark, who helped put together NBC and USOC last autumn, represented the USOC in the negotiations.