Lausanne, Oct 08: Xerox, which has been involved with the Olympics for nearly 40 years, will drop its global sponsorship agreement after next year's Athens Games.
The International Olympic Committee said yesterday that Xerox would not renew its sponsorship deal when it runs out in December 2004.
"While we certainly appreciate the value of this investment and will leverage it during the Athens Games, Xerox has decided to refocus its marketing to other customer-facing initiatives," Xerox chief marketing officer Diane Mcgarry said in a statement.
Xerox became a partner of Olympic movement in 1964 and joined Top, the IOC's worldwide sponsorship programme, in 1994.
The company has been involved in the publication and distribution of Olympic results and provided photocopiers, supplies, services and other office equipment to organising committees.



"Xerox has been an excellent partner over the years and we are saddened to see the relationship end," said Gerhard Heiberg, chairman of the IOC marketing commission.



"We recognise, however, that in the world today, companies must adapt and alter their business and marketing strategies to accommodate changing market conditions."



Xerox said it has not yet decided if it will continue sponsorship arrangements with some national Olympic committees. The top program currently includes 12 multinational corporations, proving the IOC with revenues of more than US$600 million. Eight companies have already extended their sponsorship through 2008, the IOC said.



The IOC negotiates four-year corporate sponsorships for a reported $65 million apiece.


Bureau Report