Sponsoring Olympic Games: The Benefit

Advertising, rights licensing, and sports sponsorship all, however, are strategies applied by states and cities to produce revenues to aid the sponsorship with the Olympic Games.

When 1 speaks of an entity external towards sports event or sports team that becomes a sports sponsor, 1 most always in the modern day period is referring to a major corporate enterprise. Inside the earlier days of sports sponsorship, however, individuals and groups of men and women often provided the underwriting needed to stage a sports event or a sports team. This sort of individuals and groups had been referred to additional generally as patrons than as sponsors; however, the function they performed was that of sports sponsorship. Throughout the history of sports sponsorship, also, governments have fulfilled the role of sports sponsorship.

The formative many years of the Professional Golfers Association tours, as an example, relied heavily on municipal sponsorship for each prize funds and also the underwriting of operational expenses. During the modern period, each municipal and regional governments sponsor each sports events and sports teams from the development of the physical facilities needed or in the provision of financial guarantees that allow sports authorities, organizing committees, or sports teams to make the capital required to develop these kinds of physical facilities

Olympics committees, however, are characterized by seemingly unbounded optimism. Projections are how the Summer Olympics to be held in Sidney, New South Wales, Australia in 2000 will generate an increase during the gross domestic solution (GDP) in the Nation of New South Wales of 3.26 percent in actual terms over the 14-year period extending within the time the games were awarded for the city to 2004 (New South Wales Treasury & Centre for Regional Economic Analysis, 1997, p. A1). The projection also indicates how the Sidney 2000 Olympics Committee will end using a surplus (profit).

As well as doing an audience and thereby influencing corporate or brand awareness, a sponsorship program can also transfer certain image connotations inherent within the workout onto the sponsor. An example of image transfer is provided by Kodak and that corporation's 1988 Olympic involvement. The Olympic theme was used to enhance brand image on the worldwide basis and specifically on the youth market. Kodak manufactured a powerful campaign centering on customer goods such as film, batteries, and cameras while using highly proper "Go for ones Gold" theme (Meenagahan, 1991, p.81).

The definitely explosive growth of commercial sports sponsorship started out of the Olympic Games in Los Angeles in 1984. The 1984 United States Olympics Committee (USOC), as an example, raised over $88.7 million from more than 200 companies. In exchange for their participation, firms had been able to use the line "Official (item) with the 1984 Olympic games" in their advertising, plus they had been given prominence at the games themselves.

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