Major sports brand Nike is among eight companies to have signed sponsorships deals amounting to €2.7 million (£2.3 million/$3.3 million) with the Estonian Olympic Committee (EOK), it has been announced.
The EOK has confirmed that gambling operator PAF, advertising company JCDecaux, entertainment business Olympic Casino, sporting goods retailer Sportland, medical diagnostics provider SYNLAB, automotive company Toyota Baltic, security firm FORUS and Nike have all agreed to sponsor the organisation until 2024.
The deals are set to cover the Tokyo 2020 and Paris 2024 Olympics, the Beijing 2022 Winter Olympics as well as the Gangwon 2024 Youth Winter Olympics, the Kraków-Małopolska 2023 European Games and several European Youth Olympic Festivals.
It was also confirmed by the EOK that insurance company ERGO, which issues scholarships for young athletes, would continue as a partner.
The EOK revealed the money generated from the sponsorship deals would be directed to the promotion of elite sports, youth sports and physical activity.
"Everything good starts with us, and everyone has an important role to play in building and maintaining great things," said EOK President Urmas Sõõrumaa.
"My heartfelt thanks to the sponsors who have supported EOK for years and have remained to support sports both financially and through their activities, even in difficult times.
"Sponsorship creates a direct donor-recipient relationship that is remembered by a whole generation.
"Together, we will contribute to the development of top and youth sports, so that the Estonian flag will continue to fly high in important sports competitions, and to the development of physical activity, so that the Estonian people will live healthier and happier lives longer."