Airtel offers $1 million sponsorship for CWG
In a boost to the crisis-ridden Commonwealth Games (CWG), telecom major Airtel is understood to have offered sponsorship of $1 million (about Rs 4.5 crore) to the organisers.india Updated: Sep 28, 2010 01:11 IST
In a boost to the crisis-ridden Commonwealth Games (CWG), telecom major Airtel is understood to have offered sponsorship of $1 million (about Rs 4.5 crore) to the organisers.
According to sources in the know of the development, talks were held between the firm and the Organising Committee (OC) of the CWG, which will be held in New Delhi from October 3-14.
When contacted, a company spokesperson declined to comment.
Airtel's sponsorship offer is a much needed relief to the organising committee, which has been struggling to rope in sponsors for the event, with most of the corporate houses shying away from the games.
Coca Cola, Reebok and Hero Honda are among the few private firms that have come forward. The OC is eyeing Rs 390 crore revenue from sponsorships.
According to OC officials, a total of 10 sponsors and partners of the CWG have committed to giving Rs 390 crore despite the Railways, the lead partner, yet to give its promised Rs 100 crore. Other sponsors
have also delayed their contributions.
Besides Railways, other PSUs who have committed sponsorship money are Air India (Rs 35 crore), Central Bank of India (Rs 50 crore) and NTPC (Rs 50 crore). All sponsorship money will not necessarily be in cash as some will be in kind also.
First Published: Sep 28, 2010 01:10 IST