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Sep 1, 2009 9:25 AM by Associated Press

P&G sponsors US Olympic Team

The Procter & Gamble Co. says it will be a major sponsor of the U.S. Olympic Team for the upcoming winter and summer games.

The deal, being announced later Tuesday, comes a month after the world's largest advertiser agreed to a major NFL sponsorship. It's also a big boost to the U.S. Olympic Committee's efforts to attract sponsors in a tough economy. Financial details haven't been released, though deals with companies of this size are usually worth at least $15 million.

The Olympics tie-in involves 17 of the consumer products maker's brands, from Olay skin care to Pantene shampoo to Pringles snacks. Cincinnati-based P&G will be a sponsor for the Vancouver 2010 and the London 2012 games.

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