London 2012 names Lloyds TSB as first sponsor

LONDON, March 14 (Reuters) British bank Lloyds TSB has won the race to become the first sponsor of the London 2012 Olympic Games, organisers announced in a statement today.

British media said the agreement with Britain's fifth biggest bank was worth about 80 million pounds (154.3 million dollars).

The bank was unveiled as ''the exclusive Banking Partner and first domestic partner'' of the Games, LOCOG said ahead of a news conference with organising committee chairman Sebastian Coe.

In the statement, Coe stressed the role partner companies will play in providing two billion pounds towards running the Games, including infrastructure, technology and personnel.

''It's a milestone moment in the history of the Games, and we couldn't wish for a better first partner to join us on the journey to London 2012,'' said the twice Olympic 1,500 metres champion.

''Lloyds TSB is a great British company, with a strong presence throughout the country, and their support will help us deliver a Games that engages and inspires the whole nation and leaves a truly lasting and sustainable legacy.'' The statement says Lloyds has bought exclusive category marketing rights to the London Games and will also work with the organisers on the sale and distribution of tickets when they go on sale in 2011.

The bank will focus on two key areas -- youth and bringing the Games to the wider community. Partnership programmes in both areas will be developed in the coming months.

LOCOG will work with Lloyds on a programme of live sites, including big screens and performance spaces to connect communities up and down the country with the Games.

REUTERS PDS RK1938