NationsBank in new Olympic deal

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The U.S. Olympic Committee signed NationsBank Corp., Charlotte, N.C., to an 8-year sponsorship deal for the U.S. Olympic Team. Packaged by the USOC's marketing arm, Olympic Properties of the U.S., the wide-ranging pact includes U.S. sponsorship rights to the 2002 Winter Olympics in Salt Lake City. Terms weren't disclosed, but the cost to NationsBank in fees and services could exceed $100 million. NationsBank has extended a $170 million line of credit to the Salt Lake City Organizing Committee. NationsBank had been a sponsor of the 1994 and 1996 U.S. Olympic Teams and the 1996 Summer Olympics.

Copyright January 1998, Crain Communications Inc.

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