The supermarket has admitted it is negotiating with Oliver over his contract, which expires in May. The renewal would mark a U-turn for Sainsbury's, which had been widely expected to end its five-year association with the chef.
This speculation followed Sainsbury's decision to review its £56m advertising account, currently held by Abbott Mead Vickers BBDO.
Oliver's status has rocketed in recent weeks through Channel 4 show 'Jamie's School Dinners', which is campaigning for healthier school meals. More than 100 MPs have signed up to his manifesto to increase government spending on school meals.
The sponsorship, which is ITV's third-most expensive, and the biggest by a supermarket, covers all ITV1 first-run and returning drama series of up to three parts, from April. These will include 'Donovan' and 'Missing'.
A Sainsbury's spokeswoman said the £5m was an additional investment, which would not affect its other media plans.
HSBC terminated its eight-year sponsorship at the end of last year. Drum negotiated the Sainsbury's deal.
The sponsorship credits, which have been created by Abbott Mead Vickers BBDO, feature a couple rushing to prepare dinner in time for the start of the drama. The recipes for the meals that are featured have all been prepared by Oliver, and will be available on recipe cards in Sainsbury's stores.
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