The USOC stood by BP in the aftermath of the Gulf of Mexico oil spill that killed 11 workers and cost the company billions of dollars last year, and the renewal will boost the financial coffers of the most influential National Olympic Committee in the world. The USOC has signed up 15 of its 30 sponsors until 2016 and beyond, including Kellogg’s, Nike and General Electric.
Fifteen of the USOC’s deals are due to expire next year, including partnerships with McDonald's, Hilton and AT&T. Last year, sponsors accounted for more than US$71 million of the Committee’s $250 million turnover. The USOC recruited BP as a sponsor of the 2010 and 2012 US Olympic and Paralympic teams as well as the 2011 US Pan American team in February 2010, just two months before the Gulf of Mexico disaster.