BIZCHINA
Olympics picks Lenovo as partner
Updated: 2004-03-27 09:39
Lenovo, the country's largest computer maker, signed a milestone deal
with the International Olympic Committee (IOC) on Friday, becoming the
first Chinese company to join the elite club of Olympic sponsors.
Lenovo is the 11th and the last to join The Olympic Partner (TOP)
programme for the 2005-08 period. The deal will include sponsorship of
both the 2006 Turin Winter Games and the 2008 Beijing Summer Games.
"It is a significant day because Lenovo Group is the first Chinese
company to become a global partner of the IOC's TOP programme, thus
becoming an important member in the Olympic family," said IOC President
Jacques Rogge in a video speech during the signing ceremony.
Companies that have joined the programme have become worldwide partners
of the IOC, organizing committees for the Olympic Games as well as over
200 National Olympic Committees.
In return, they are allowed to use Olympic intellectual property for
marketing and promotions.
"This is a huge moment for Lenovo," said Liu Chuanzhi, chairman of Lenovo
Group, formerly known as Legend Group. "This is a huge historic
responsibility and I hope we are able to achieve it successfully."
The value of the Lenovo deal has not been disclosed. "This is a business
secret and I cannot figure how much it is," said Gerhard Heiberg, a
member of the IOC's Executive Board and chairman of the IOC marketing
commission. The previous period of the TOP programme, which ran from 2001
to 2004, is valued at more than US$500 million collected from 10 TOP
sponsors.
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