Deloitte has been appointed as the official firm of the 2012 London Olympics.
The London Organising Committee for the Olympic Games and Paralympic Games announced the firm's status as 'professional services supporter' today.
It means the firm will both inject cash, thought to be in the millions of pounds, and professional support, LOCOG said. In return, Deloitte will be able to use the 2012 logo and get hospitality tickets when the games are on.
'This is an exciting and innovative deal, with Deloitte supporting us not only with cash, which is essential as we raise the £2 billion of private finance we need to host and stage the Games in 2012, but will also provide us with expert people,' said LOCOG chief executive Paul Deighton.
Deloitte will provide professional advisory services to LOCOG, including tax help, human capital, management consulting, and financial support through secondments and advisory work, the official press release said.
The sums of money involved in the deal are not being disclosed but they are thought to be in the millions.
A Deloitte spokeswoman also said that LOCOG's FD Neil Wood, a Deloitte partner seconded to the Games committee, had taken no part in the process due to the conflict of interest.
The firm will get full use of London 2012 marks, access to team rights, access to Olympic imagery, right to Games-time hospitality, and participation in both Torch Relays.
John Connolly, Deloitte senior partner and chief executive commented said the selection of the firm reflected Deloitte's exceptional breadth and scale of services.
'This is a fabulous opportunity for everyone in our firm, and a great platform for the Deloitte brand. It reflects our longstanding commitment to leadership in the market and in the community, building on our support for grassroots sport and our exceptional track record in voluntary and community support. Over the course of the next five years, many of our people will have a once in a lifetime opportunity to transform London and the UK, and we are proud to be playing our part,' said Connolly.
Further reading:
MPs warn on Olympic cost control
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