London 2012's winning-bid document had outlined a total investment of £450m from domestic sponsors, but this figure has increased by two-thirds in the face of an expanding operating budget.
The increase will add weight to fears among some industry observers that LOCOG has overestimated the size of the market, especially as the committee is being hampered by a flurry of organisations trying to sell 2012-related packages (Marketing, 7 June).
A spokeswoman for LOCOG said that 'sponsorship funding would represent roughly a third of the total operational costs of the Games, which are currently set at just over £2bn'.
LOCOG claimed that it was confident it would achieve this goal, which it believed to be 'in line with 2012 prices'.
The task for raising this heightened level of revenue will fall to incoming commercial director Chris Townsend, who takes up his post at the end of the month.
_1.jpg)
.jpg)
