The International Olympic Committee and the soft drink giant, the Coca-Cola Company have renewed their partnership for the Olympic games for an unprecedented 12 years till 2020.
The renewal marked the longest sponsorship of the Olympic Games to a record 92 uninterrupted years between the IOC and Coca-Cola.
Both sides did not disclose the financial terms of the sponsorship deal signed in Beijing on Monday. "The contribution of Coca-Cola to the Olympic Movement has always been the model of a true partnership," said IOC president Jacques Rogge at the signing ceremony, which was held on the Great Wall of China.
The new agreement, which begins in 2009, will see Coca-Cola supporting the Olympic Movement over a period, which covers the Vancouver 2010 Olympic Games, the London 2012 Olympic Games, plus the Olympic Games of 2014, 2016, 2018 and 2020.
"The Olympic Games would not be where they are today, and so many athletes over the years could not have competed in the Games, without the extensive corporate support pioneered by Coca-Cola as our longest continuous sponsor," Rogge was quoted as saying by Xinhua news agency.
The Coca-Cola Company chairman, E Neville Isdell, echoed Rogge's comments, emphasising the new atmosphere of Olympic spirit at the beverage company.
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