The deal – which comes two weeks after Dow Chemical signed on as part of the Olympic Partner (TOP) programme - takes the IOC’s revenues close to $1 billion mark for the four-year cycle from 2009 to 2012.
P&G becomes the 11th TOP partner. P&G is already a sponsor of the US Olympic team, a deal it said increased the company's image and helped generated nearly $100 million in sales.
IOC officials said after the Dow deal that they were confident of adding two more major sponsors before the London Games.
“Our mission is to bring sport to the grassroots level especially in developing countries,” said IOC president Jacques Rogge. “There is something beyond money and that is expertise and knowledge of Procter & Gamble. They are undoubtedly the best marketing company in the world and I am sure we will learn about marketing from them.”
The P&G brands participating in the partnership include Pampers, Tide, Ariel, Always, Whisper, Crest, Pantene and Olay, the company said.
