The Olympics

The Olympics


News, information and stories about the Olympic Games.

Thursday, 7 December 2006

Barclays Boycotts Olympics

Barclays has withdrawn from sponsoring the 2012 London Olympics. This is rather ironic, as Barclays is housing the Olympic organising committee in its headquarters.

The sponsorship would have contributed to the currently expected costs of £2BN, needed to run the games themselves.

Barclays, which has loaned the organising committee £50M, was expected to have been among the leaders applying for main sponsorship places.

The winning sponsor, from the world of banking (sans Barclays) will be expected to put up £100M.

Had Barclays become a sponsor, it would have had the right to use Olympic rings in advertising, the right to associate itself with the games and personalities involved in them, and the right to advertise its name and logos at Olympic sites.

Despite what Tessa Jowell and the other Olympics organisers might try to claim, this withdrawal is undoubtedly a blow for the already shambolic Olympics.

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