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  • Rio 2016 Unveils Ernst & Young as Tier 2 Sponsor


    (ATR) Rob Prazmark of 21 Sports & Entertainment Marketing Group tells Around the Rings from the site of the announcement that Ernst & Young will provide services of which Rio 2016 is in immediate need, the reason behind the unusual timing of a Tier 2 sponsorship.
    Ernst & Young is the latest sponsor of Rio 2016. (21 Sports & Marketing)

    Prazmark's company helped secure the deal with Rio 2016.

    Normally, organizing committees fill the roster of Tier 1 sponsors and then fill out the ranks with Tier 2 sponsorships.

    Prazmark says "the thing that Rio 2016 needs right away is expertise and people skills and there is an instantaneous team of resources and people that Rio 2016 can tap into."

    He added: "As part of the arrangement, instead of having to hire all these people, Ernst & Young will be providing these people as the need arises. That’s partly why they jumped to a Tier 2 so early.Unlike other needs that they have that come later in the cycle, they need expertise that comes right now."
    Rob Prazmark (right) and business partner Tom Shepard in Rio. (21 Sports & Marketing)

    Several key executives from Ernst & Young were on hand at the Copacabana Palace Hotel alongside Rio 2016 CEO Leonardo Gryner for the announcement, including the company's global CEO James Turley as well as Jorge Menegassi, Ernst & Young managing director for South America.

    Prazmark said that was proof of how important the deal is to Ernst & Young.

    "What it really means to the company is that Brazil is a country built on entrepreneurial spirit and Ernst & Young is about the entrepreneurial spirit. It was a great blend of values [with the Olympics]."

    More sponsorship announcements are expected in the coming months. 

    With reporting from Ed Hula III

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