In order the protect the integrity and spirit of the upcoming 2010 Vancouver Olympics, the Vancouver Olympic Committee (VANOC) took the proactive step of buying up all the unclaimed billboard space in the city and surrounding areas mainly as a measure to thwart unfavourable sponsors, competing sponsors or protesters to display outrageous and shocking messages - PETA we're looking your way.
Now VANOC is stuck trying to sell of a portion of the billboards to an beleaguered and unresponsive sponsorship market.
With Olympic sponsors and government partners all cutting budgets because of the economic downturn, Vanoc said Wednesday it still has $12 million worth of inventory.
The figure -- just under a third of the $40 million Vanoc put out years ago to uphold a demand by the International Olympic Committee to protect its sponsors from being targeted by non-rights-holders -- represents a significant risk to the organizing committee, which continues to scramble to find ways to cut costs in its $1.7 billion operating budget. - Source: Vancouver Sun
Now VANOC is stuck trying to sell of a portion of the billboards to an beleaguered and unresponsive sponsorship market.
With Olympic sponsors and government partners all cutting budgets because of the economic downturn, Vanoc said Wednesday it still has $12 million worth of inventory.
The figure -- just under a third of the $40 million Vanoc put out years ago to uphold a demand by the International Olympic Committee to protect its sponsors from being targeted by non-rights-holders -- represents a significant risk to the organizing committee, which continues to scramble to find ways to cut costs in its $1.7 billion operating budget. - Source: Vancouver Sun