The global economic downturn is not expected to cut into the multi-billion dollar revenues of the International Olympic Committee despite any effects felt by major sponsors, its marketing chief said this week.
Some top sponsors linked to the Olympic Games such as Visa have warned they were not immune to the crisis but the IOC said any effect would not trickle down to their global deals with the companies.
"I don't think it will affect the IOC," IOC Marketing Commission chief Gerhard Heiberg told Reuters.
"I think we are in good shape."
Direct IOC broadcasting and sponsorship revenues for the period 2005-2008 were about $3.5 billion, with some $866 million of that coming from its top sponsorship programme which includes companies like Coca-Cola, Visa, Panasonic, McDonald's and Samsung.
Heiberg said top sponsors revenues would continue to grow and exceed the $1 billion mark for the 2009-2012 quadrennium, an increase of about 15 per cent from the previous four years.
"I have said that for the (2012) programme we will pass one billion dollars and that is still my aim. That remains our aim," he said.
The IOC has currently nine top sponsors with at least one more set to join.
"Until 2012 we want between 10 and 12 (sponsors). We currently have nine," Heiberg said.
Several top sponsors including Panasonic and Coca-Cola are already on board for the quad-rennium ending in 2016, Heiberg said.
IOC president Jacques Rogge has assured Vancouver and London, hosts of the 2010 Winter and the 2012 Summer Games respectively, would also not be severely affected by the financial crisis.
The host of the 2016 Games, for which major sponsor and broadcasting deals have yet to be negotiated, will be elected next year.
IOC revenues from broadcasting and new media rights for the Vancouver 2010 Winter Games and London 2012 Olympics have already risen by nearly 50 per cent from the previous two-Games package of Beijing and Turin, and will be about $3.8 billion.
A sharper than expected rise in viewers during this summer's Beijing Olympics, facilitated greatly through several new media deals, has further boosted the IOC's confidence.
"We are in good condition," Heiberg said. "We are on track to meet our aims."