After the London Olympics decision, pressure is on companies to help fund the huge costs through sponsorship. So the IBLF’s report on the potential for wider impact is timely.
After the remarkable London Olympics decision, sport is very much in the news. Cynically viewed, the first result will be pressure on companies to help fund the huge costs through sponsorship – lest we forget the Millennium Dome fiasco. For some, there will be real commercial opportunities, but for others the business case for conventional sponsorship will be thin. So the IBLF’s report on the potential for wider impact from sport is timely.
One problem is that companies need partners who appreciate the potential and can work to achieve the social advantages. In the UK, the big football clubs are starting to get the message, but few other sports are as well advanced. Another problem is that corporate contributions to sporting activity are not tax deductible unless viewed as a business expense – fine for pure sponsorship but not necessarily otherwise. In the US, donations to the Olympic movement are eligible under 501(c)3 – the equivalent of charity registration – but not in the UK. Over to Gordon Brown.
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