Media Reports Name Barclays As New Team GB Sponsor
Barclays is set to replace Lloyds as the official sponsor of Team GB, according to media reports, after rumours emerged that the company will sign a new partnership with the British Olympic Association (BOA).
Should the deal be confirmed, Barclays would become the first brand to sign a deal with the BOA since the organisation was put in control of the commercial rights for Team GB following London 2012, according to media reports.
It would be the second sponsor to agree a deal for the Rio 2016 Games, with adidas having already extended its partnership until 2016.
Lloyds had been the primary-services partner of Team GB during London 2012, signing a deal in 2007 which gave the brand marketing rights to Team GB during the summer Games. Lloyds used the sponsorship in its ‘For the Journey’ campaign.
The deal would represent a major breakthrough for Lord Coe, who was made chairman of the BOA in November. The sponsorship would add to Barclays portfolio of high profile partnerships which includes the Premier League and the ATP Tennis finals.
Meanwhile, Barclays are yet to comment on the deal, while a spokesman for the BOA told media it is ‘actively engaged in discussion with a number of companies’ in different sectors.
