Government attacked over Olympic rights confusion
A political storm blew up after Conservative politicians accused government officials of not properly understanding Olympic sponsorship.
The magazine Marketing Week reports the Department for Culture, Media and Sport (DCMS) wrongly promised £100m in private funding to athletes in 2006, as it incorrectly thought it could offer up sponsorship opportunities to firms.
Quoted by the publication, David Wyatt, DCMS parliamentary private secretary, said “none of this was understood in 2006″ in relation to the lack of rights his department had to give to organisations looking to be linked with the event.
Conservative MPs hit out at the mistake and questioned where the £100m would now come from.
Quoted by Marketing week, shadow secretary of state for culture media and sport Jeremy Hunt MP said he feared what other “basic miscalculations” would emerge.
The magazine has previously reported that the DCMS had no method in place to fill a £100m hole in the finance for UK Sport, responsible for funding Britain’s top athletes.
Sponsorship rights relating to the Olympics are complex and help by a number of different bodies.
Rights over global marketing belong to the International Olympic Committee and domestic rights are owned by the London Organising Committee for the Olympic Games.
Article supported by Physioroom.com, Vulkan suppliers.