Lloyds TSB becomes first sponsor of the 2012 London Olympics

Lloyds TSB has become the first sponsor of the 2012 Olympics which will be held in London.

The deal, which cost Lloyds 80m, will give the lender access and category marketing rights for Team GB and Paralympic GB for Beijing 2008 and Vancouver 2010 as well as the use of a London 2012 brandmark to be launched later this year. Lloyds TSB will also work with London 2012 on the sale and distribution of tickets.

Nigel Gilbert, marketing director of Lloyds TSB, says: “We believe the price paid was a good one. We were extremely keen to win this.”

Sebastian Coe, chairman of the London 2012 organising committee, says: “As an athlete, my parents were my sponsors and I could not have competed without their support.

“In a similar way, we cannot stage the Olympic Games in 2012 without the support of partner companies.”