IOC Hopes To Sign 3 New Sponsors Before Vancouver

With the economic climate showing signs of recovery, the IOC is hoping to sign three new major sponsors before the Vancouver Winter Olympics.

Marketing commission chairman Gerhard Heiberg says the International Olympic Committee has renewed negotiations with new sponsors in the last few months because of "more confidence in the markets." He said up to three more international sponsors could be signed before the Vancouver Games start Feb. 12.

That would bring the IOC's total sponsor deals above the targeted $1 billion mark for the 2009-2013 cycle. Nine sponsors have been signed.

Heiberg said Thursday that talks stalled at the start of the financial crisis, but several companies asked to renew negotiations.