VTB Clinches Sponsorship Deal with IAAF
International Association of Athletics Federations (IAAF) officially announced yesterday it concluded a five-year sponsor agreement with VTB. The bank has become Russia’s first company having a sponsorship agreement with a big world sports federation and it intends to use it to materially improve the brand recognition in the world.
VTB has become the ninth official partner, IAAF announced Wednesday. The sponsorship package of the bank covers summer world championships of 2007, 2009 and 2011, winter world championships of 2008 and 2010, the Grand Prix finals of 2007 to 2011 and the World Cup of 2010. Moscow world championships of 2013 will be a part of the package, specified VTB Vice President Vasily Titov.
Some sources said VTB had paid $30 million for the sponsor package, but Titov declined to confirm it, specifying, however, that the status of Russia’s sponsor would be separately agreed on for each tournament and the amount could change.
In VTB, they are rather proud of the agreement. “We will be the sole partners of IAAF in the banks’ category,” Vasily Titov pointed out. “This contract is a great achievement for VTB,” added Valentin Balakhnichev, president of Russia’s Athletics Federation. “Many companies that hold IPO remain unrecognized in the world. The contract with IAAF is a powerful resource for VTB in this respect.”
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All the Article in Russian as of May 03, 2007
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