GM's Olympic Sponsorship Vulnerable to Economic Crisis

Financially battered General Motors says it remains fully committed to keeping its name on GM Place in Vancouver and staying on as a national partner of the 2010 Olympics.

GM Canada representative Stewart Low said Wednesday the struggling automaker clearly wants to cut costs now, but the two Vancouver-based sports partnerships are too important to eliminate.

"We are hugely committed to the Olympics and will do everything in our power to continue on with that. And the same thing goes with GM Place," Low said in an interview.

"We call GM Place a cornerstone property -- really a linchpin to what we're trying to do across the country with sponsorships of various properties."

GM reported a $4.2-billion US loss for the third quarter this year and its very existence is thought to be at stake, with the heads of GM, Ford and Chrysler in Washington this week seeking a $25-billion US bailout package.

The company has recently backed away from other sports sponsorships, ending its relationships with two NASCAR racetracks and its partnership with the U.S. Olympic Committee when the contract expires at the end of this year.

GM Canada signed a 20-year, $18.5-million deal with Canucks owners in 1995 to call the stadium General Motors Place through 2015.

The company's national partnership deal with the Vancouver Olympic Organizing Committee includes $14 million cash and $53 million worth of vehicles, services and marketing support.

Canucks Sports & Entertainment president Chris Zimmerman offered his full support to GM.

"General Motors has been an excellent partner over the years, contributing to community and business initiatives of the Vancouver Canucks," Zimmerman said in a statement. "Our focus continues to be to help support General Motors and its dealers connect with our fans and their customers throughout the province."

bconstantineau@vancouversun.com