BMW becomes 2012 London Olympics top-tier sponsor

LONDON (AP) -BMW is the latest top-tier domestic sponsor of the 2012 London Olympics, and organizers remain in talks with additional potential investors.

The German carmaker was presented Wednesday as the official automotive sponsor of the games in a deal worth an estimated $67 million in cash and services.

BMW will provide about 4,000 vehicles for athletes, officials and other members of the Olympic community.

As the seventh top-level sponsor and 24th overall of the games, the deal brings London's total revenue from domestic sponsors to nearly $1 billion. The overall target is $1.17 billion.

"We are well on our way to that with two and bit years to go,'' Sebastian Coe, who heads London's organizing committee, told The Associated Press. "There are a number of competitive discussions out there in any number of categories. We have got other things lined up.''

The other top-tier sponsors are Adidas, BP, British Airways, BT, EDF and Lloyds TSB.