The British Olympic Association (BOA) and FTSE Group, the global index provider, launched an initiative on 14 February 2007 that will partner 33 individual companies with national governing bodies of Olympic sports.
Both parties underline that this partnership is not about sponsorship and that no commercial or advertising issues are involved. The FTSE-BOA initiative is about pairing companies with sports federations, so that the companies can transfer organisational and management skills and knowledge to the federations and thus help sports bodies develop efficient governance structures.
"Elite performance is business driven; the national governing bodies of Olympic sports and the athletes, just like successful businessmen and women, have to deliver results, be it support services, a top contract or an Olympic medal," said BOA Chairman Lord Moynihan. "These partnerships will provide an exchange of values and best practices beneficial for both worlds," he added.
As to the benefits for the company, they are primarily related to the area of corporate responsibility and development as well as motivating internal staff.
Ten partnerships, including for triathlon, hockey, boxing and judo have already been formally agreed and companies will partner a specific sport to try to make it more professionally run in view of the Beijing 2008 Olympic Games, the Vancouver 2010 Olympic Winter Games and the London 2012 Olympic Games.
Good sport governance and the specific organisational features of sport are among the core elements in the upcoming EU White Paper on sport that is currently under preparation.
