By JASON PARKER
With five down and 35 to go, the Salt Lake Olympic Committee welcomed this year's latest corporate sponsor: Home Depot.
With their sponsorship, Home Depot joins Texaco, US West, General Motors and Seiko.
The company has promised an undisclosed amount of cash and will provide Olympic athletes with flexible jobs where they can earn money as they prepare for the 2002 Winter Olympic Games, according to a news release.
Fifteen future Olympic athletes are involved in the Olympic Job Opportunity program, but numbers are expected to increase, said Jerry Shields, a Home Depot spokesman.
Home Depot, America's largest home improvement retailer who sponsored the 1996 Olympic games, is pleased to continue their support of the Olympic effort.
'We had a favorable experience in the '96 Olympic games. All of our associates feel the program is very beneficial,' Shields said.
The Salt Lake Organizing Committee is happy with the donation, but knows there is more work to be done.
'We were very pleased, but not euphoric. We need 40 sponsors and this is only our fifth,' said Mike Korologos. 'We've kind of picked the low hanging fruit.'
'We are fortunate not to have to build too many things,' he said. 'In Atlanta, they spent $250 million for one stadium. We will only spend $300 million total on construction.'
'Most of our venues are in place or under construction now,' Korologos said. 'We can rent the Delta Center and the Salt Palace -- these things have an after life.'
The total cash budget for the SLOC is $920 million, Korologos said.
'Without corporate sponsors, we couldn't have the Olympic games,' he said. 'We receive 47 percent of our total revenue from television and 39 percent comes from corporate sponsorship, the balance comes out of tickets and sales and miscellaneous other things.'
To obtain the additional funds, Olympic Properties of the United States, a new marketing arm of Olympic organization, has been introduced for the first time, Korologos said.
'The USOC is in charge of preparing the athletes, our mission is to put the game on. OPUS will seek corporate sponsors and make sure they are received,' he said.
Corporations who do contribute will receive tickets, accommodations and other benefits, Korologos said.
In spite of what critics have said about current morale among Olympic promoters, Korologos feels things are going better.
'We've been distracted, but this place is too busy to get down,' he said. 'We have an incredible staff and feel that right now we are on the right track.'