COLORADO SPRINGS, Colo. -- The U.S. Olympic Committee signed an agreement Monday designating J.C. Penney Co. as the first exclusive retailer of U.S. Olympic apparel and as the official outfitter of the 1992 U.S. Olympic Team.
As the official outfitter, J.C. Penney will furnish parade uniforms that the 1992 U.S. Olympic Team will wear in opening ceremonies of the summer and winter games. J.C. Penney will be the only retailer able to designate itself as an official sponsor of the 1992 U.S. Olympic Team.
Since 1976, J.C. Penney has sold USA Olympic footwear through its retail outlets and catalog operations. During that time, Penney has contributed more than $7 million to the USOC through an agreement giving the committee 50 cents for each pair sold.
John Krimsky Jr., deputy secretary general of the USOC, said the agreement is 'extremely significant in terms of supporting America's amateur athletes.'
'Since our athletes do not receive sustained federal funding, agreements such as this are imperative for our U.S. Olympic program, and we look forward to our relationship with J.C. Penney over the next four years,' Krimsky said.
