11.17.2001Corporate

Verizon and New York Olympic Regional Development Authority Sign Sponsorship Agreement

NEW YORK -- Verizon Communications has signed an agreement with the New York Olympic Regional Development Authority (ORDA) to become the exclusive title sponsor of the Sports Complex in Lake Placid. The two-year agreement also calls for Verizon to be the official telecommunications sponsor at all ORDA venues.


The Sports Complex, which will now be known as the Verizon Sports Complex, offers a full slate of year-round events at Mt. Van Hoevenberg including bobsled, skeleton, luge, biathlon, cross-country skiing and mountain biking.


Financial aspects of the agreement were not released.


"This is a natural extension of our sponsorship of the US Luge team for the past 16 years," said Pat Hennebry, Verizon director of sponsorships. "Our affiliation with luge has paid big dividends. We expect to reap those same benefits with this new sponsorship opportunity. Associating the Verizon name with these quality training and sporting facilities will help expand, strengthen and reinforce our brand."


Last month, Verizon signed a five-year agreement with the United States Bobsled and Skeleton Federation to be the group's exclusive telecommunications sponsor.


The Verizon Sports Complex attracts more than 335,000 visitors annually, and ORDA venues combined attract more than two million people, the vast majority from the Northeast. The affiliation will enable Verizon to initiate and expand community-based programs, such as its literacy efforts.


In addition to becoming the title sponsor of the sports complex and telecommunications sponsor for all ORDA venues, Verizon will place signage at all facilities and advertising in ORDA promotional materials. The company also will receive title sponsorship to one elite event per year at the complex. Other ORDA venues include Whiteface Mountain, Gore Mountain, the Olympic Center, and the Mackenzie-Intervale Ski Jumping Complex.


"We are very pleased to welcome Verizon into the Olympic Authority family," said ORDA president and CEO Ted Blazer. "Attracting such a well-known sponsor speaks volumes for us. It gives ORDA a great sense of achievement and heightened credibility as a sports and tourism organization. But it would not have been possible without the vision and support of Governor George Pataki and Empire State Development Corporation and ORDA Chairman Charles Gargano, who funded the construction of the new track two years ago. This, in turn, has led to world-class events and a world-class sponsor."


The Verizon Sports Complex is set to host World Cup bobsled, luge and skeleton events over the next five weeks.


Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with 128.5 million access line equivalents and approximately 28.7 million wireless customers. Verizon is also the largest directory publisher in the world. A Fortune 10 company with about 256,000 employees and more than $65 billion in annual revenues, Verizon's global presence extends to 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com.


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