Citi renews sponsorship deal with USOC

Updated: April 23, 2013, 3:45 PM ET
Associated Press

COLORADO SPRINGS, Colo. -- Citigroup has renewed its sponsorship deal with the U.S. Olympic Committee through 2016.

Monetary details of the agreement were not disclosed, though the banking category has long been one of the most lucrative for the USOC, traditionally worth $10 million to $15 million for four years.

Citi's first deal with the USOC came in 2011 after the federation had lost longtime sponsor Bank of America.

In addition to its sponsorship for the 2012 Games, Citi also donated $500,000 to the USOC to launch the Every Step of the Way program to support future Olympic hopefuls.

Copyright 2013 by The Associated Press

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