Some top-tier sponsors linked to the Olympic Games such as Visa have warned they were not immune to the crisis but the IOC said any effect would not trickle down to their global deals with the companies.

 

Gerhard Heiberg, the head of the IOC's Marketing Commission, said: "I don't think it will affect the IOC.

 

"I think we are in good shape."

 

Direct IOC broadcasting and sponsorship revenues for the period 2005-2008 were about $3.5 billion, (£2.1 billion) with some $866 million (£527 million) of that coming from its TOP sponsorship programme which includes companies like Coca-Cola, Visa, Panasonic, McDonald's and Samsung.

 

Heiberg said top sponsors revenues would continue to grow and exceed the $1 billion (£609 million) mark for the 2009-2012 quadrennium, a period which also includes the 2010 Winter Olympics in Vancouver and the first ever Youth Olympics in Singapore, an increase of about 15 per cent from the previous four years.

 

"I have said that for the [2012] programme we will pass one billion dollars and that is still my aim.

 

"That remains our aim."

 

That figure is in addition to the £600 million to £700 million that London 2012 is seeking to raise from local sponsors to finance the staging of the Games.

 

The IOC has currently nine top-tier sponsors with at least one more set to join.

 

Heiberg said: "We are talking to some companies to become TOP sponsors.

 

"These talks are taking a little longer than usual and that is a result of the financial situation.

 

"But that is all.

 

"Until 2012 we want between 10 and 12 [sponsors].

 

"We have currently nine."

 

Several top sponsors including Panasonic and Coca-Cola are already on board for the quadrennium ending in 2016, Heiberg said.

 

IOC President Jacques Rogge has assured Vancouver and London, hosts of the 2010 Winter and the 2012 Summer Games respectively, would also not be severely affected by the financial crisis.

 

The host of the 2016 Games, for which major sponsor and broadcasting deals have yet to be negotiated, will be elected next year.

 

IOC revenues from broadcasting and new media rights for the Vancouver 2010 Winter Games and London 2012 Olympics have already risen nearly 50 per cent from the previous two-Games package of Beijing and Turin, and will be about $3.8 billion (£2.3 billion).

 

A sharper than expected rise in viewers during this summer's Beijing Olympics, facilitated greatly through several new media deals, has further boosted the IOC's confidence.

 

Heiberg said: "We are in good condition.

 

"We are on track to meet our aims."