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Istanbul bid lines up $20 million in sponsorships

Updated: January 21, 2013, 8:55 AM ET
Associated Press

LONDON -- Istanbul signed up seven leading Turkish companies Monday to sponsor the city's bid for the 2020 Olympics, a $20 million deal that organizers said underlines the country's economic muscle at a time of global financial uncertainty.

The Istanbul committee described the "landmark deal" as the biggest private sector investment in any Turkish sports bid, declaring that it shows Turkey's potential as a lucrative new market and source of major sponsorship revenue for the Olympic movement.

"It ...

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