GM to end US Olympic team sponsorship


General Motors has decided not to renew its US Olympic Committee sponsorship when its contract ends after 2008. The company said the move is a result of changes in its marketing strategy and came after GM evaluated the return on its advertising investment.   The 10-year multimillion-dollar agreement included payments to the USOC, plus the entire cost of advertising and other items. The current agreement keeps GM an official U.S. Olympic team sponsor through 2008.

"We have other avenues to be able to reach this same audience without bearing the expense of being an official sponsor of the U.S. Olympic team," spokeswoman Ryndee Carney told The AP. She had no word on what GM's strategy would be for advertising related to the Olympics beyond the '08 Beijing games. Chevrolet continues to sponsor the U.S. Snowboarding team, and GM of Canada is sponsoring the 2010 Winter Games in Vancouver, she said.