Coca-Cola is committed to sponsoring major football events such as the World Cup and European Championship despite financial pressures created by the credit crunch, its European chief said.
Speaking to Reuters, the president of Coca-Cola's European operations, Dominique Reiniche, said that the drinks giant may trim sponsorships but would continue to invest in sports, notably football, at the top end and grassroots level.
"We don't see ourselves as sponsors, but as partners. Olympics, World Cup, UEFA European Championships will continue," she said. "We will revise some budgets, of course - when the income is lower you have to adapt your expenditure. Like everybody, we have to adapt and take into account the financial realities, but what I can promise you is that we stay firm on our fundamentals and supporting the core sports like the Olympics and football is an essential part of what we do and we will continue no matter what happens."
Coca-Cola has already agreed to extend through to 2020 its membership of the International Olympic Committee's worldwide TOP programme, involving major corporations, which is the IOC's most lucrative sponsorship programme.
Reiniche added that Coca-Cola will also continue its investment at the local level in sport in a bid to reduce the problem of obesity, which IOC president Jacques said last month would also be his priority if he is elected for a second term.
