Deloitte is providing sponsorship advisory services for the 2010 Winter Games
The Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC) faced several challenges in monetizing certain value-in-kind sponsorships for the 2010 Winter Games, with the risk that this value-in-kind could not be used directly by VANOC or consumed during the Games. VANOC needed to review and document the approach and strategy undertaken for the monetization of value-in-kind with select sponsors. Advisory support was required with sponsorships where discussions had been initiated and with those for which VANOC’s efforts had been less advanced than with other sponsors.
Deloitte conducted a detailed review of the existing state of affairs with respect to the value-in-kind monetization for each sponsor, as well as providing a summary of the approach and strategy undertaken to date by VANOC, including instructions and recommendations on how to proceed. We then conducted interviews with key VANOC staff and consolidated the information, approach and strategy into a series of documented proposals that took into account the monetization options suggested by VANOC. We completed the work undertaken to date by VANOC for these sponsors by seeking to either obtain the cash equivalent of the value-in-kind, or have VANOC and the sponsor conclude a mutually satisfactory agreement to release value in the value-in-kind. We provided a summary of the monetization efforts with each sponsor as the review progressed.
Deloitte focused on six key value-in-kind sponsors and assisted the VANOC team in advancing negotiations and releasing value in more than $30 million of non-cash convertible value-in-kind sponsorship.