IOC hopes to hit $1billion sponsors goal by Vancouver Games

COPENAHGEN (Reuters) - The International Olympic Committee could add as many as three top-tier sponsors in the coming months that would help them meet their $1 billion target for the 2010-2012 two-Games package, IOC marketing chief Gerhard Heiberg said.

Heiberg, speaking to the IOC session Thursday, said that while negotiations with sponsors had stalled due to the credit crisis, talks had resumed in the last month.

"We had a financial crisis, all our negotiations were postponed. But I am happy to say things have improved in the last month and now we are negotiating," Heiberg said.

The IOC currently has nine major sponsors for the 2010 Vancouver and 2012 London Games worth a total of $883 million.

"Things are developing in the right direction when it comes to the top (sponsor) program. (Sponsor) number 10, 11 and 12 could be added before the Vancouver Games," Heiberg said. "I hope we can still reach our goal of $1 billion in Vancouver."

Top sponsors confirmed for the Vancouver Games, which start in February, and the London Games are Coca-Cola, Acer, Atos Origin, GE, McDonald's, Omega, Panasonic, Samsung and Visa.

Atos Origin, Panasonic and Samsung have extended their partnerships until 2016 while Coca-Cola and Omega have extended their partnerships until 2020.

Heiberg said some sponsors wanted to extend to 2024.

"We felt that was too much," Heiberg said.

The top sponsor program for the two-Games package of the 2006 Turin and 2008 Beijing Olympics brought in $866 million.

(Editing by Peter Rutherford