Chinese Olympic Committee $120 million strong for London 2012
Thursday, 23rd April 2009 ~ Maggie ~ Link ~ Comments (0)
One of the questions that will be asked again and again between now and the summer of 2012 is, "Can China do it again?" Will China, as a guest this time instead of the host, be able to repeat or improve upon its 51 gold medal performance in Beijing?A recent Reuters story reports that China is at least throwing money at the challenge, investing $120 million in its athletes' preparation for the 2012 games. Unfortunately, the story raises more questions than it answers, but here are some of the key points from the story:
The Chinese Olympic Committee reaped $60 million (profit or revenue? The article doesn't say) from the Beijing games and has raised $60 million for London. The story seems to imply that both amounts come from sponsorships.
Sponsors for 2012 include Heng Yuan Xiang, which will outfit athletes for the opening ceremonies, and Anta, which will outfit them in competition.
The committee plans to spend some of its funds on developing sports for the general public, something Reuters refers to as "the major plank in the Chinese government's sports policy." Thus far, anecdotal evidence here in the PRC suggests that the government is only marginally concerned with grass-roots level sports development.
Quotes from the story:
Wang Jun, COC vice president: "The start of our post-Olympic marketing has not been good, it's been perfect."
Ma Jilong, marketing head of COC: "We treat the domestic and foreign brands equally. The prices are the same for them. They bid for the sponsorship in fair competition."
Wang Jun: "The best prospects for China's sports industry lies in the huge demand of the Chinese people's mass participation in sports."
Sponsors for 2012 include Heng Yuan Xiang, which will outfit athletes for the opening ceremonies, and Anta, which will outfit them in competition.
The committee plans to spend some of its funds on developing sports for the general public, something Reuters refers to as "the major plank in the Chinese government's sports policy." Thus far, anecdotal evidence here in the PRC suggests that the government is only marginally concerned with grass-roots level sports development.
Quotes from the story:
Wang Jun, COC vice president: "The start of our post-Olympic marketing has not been good, it's been perfect."
Ma Jilong, marketing head of COC: "We treat the domestic and foreign brands equally. The prices are the same for them. They bid for the sponsorship in fair competition."
Wang Jun: "The best prospects for China's sports industry lies in the huge demand of the Chinese people's mass participation in sports."
Tags: Chinese Olympic Committee, London 2012, Olympics, sports marketing