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Olympic team gets $20m boost from SVF

Published:Wednesday | July 11, 2012 | 12:00 AM
Supreme Ventures Foundation Chairman Dr David McBean (second left) presents Jamaica Olympic Association (JOA) President Mike Fennell (second right)l with a cheque valued at $20 million ahead of the London Olympics at The Jamaica Pegasus hotel in New Kingston yesterday. Looking on are Supreme Ventures Limited President Brian George (right) and JOA Vice-President Don Anderson. - Ricardo Makyn/Staff Photographer

Jamaica's team to the London Olympics Games received a helping hand yesterday with the Supreme Ventures Foundation's (SVF) announcement that it will be supporting local sports through a donation of J$20 million to the Jamaica Olympic Association (JOA).

"This event marks the success for what we outlined a few months ago," said Dr David McBean, chairman of the SVF, during a press conference held at The Jamaica Pegasus hotel in New Kingston yesterday.

"Through our efforts we will be able to make a significant contribution to the JOA and the Jamaica Athletics Administrative Association (JAAA)," McBean said.

The commitment was for $30 million to be donated between the two sports associations. The SVF had previously handed over $10 million to the JAAA, prior to the national trials, in order to assist in ensuring the success of the event.

First project

The $20 million was raised through the Go For Gold Fundraising Raffle, the SVF's first project since inception in April 2012.

Brian George, president of Supreme Ventures Limited (SVL), noted that SVL has been involved in the national trials for the past nine years.

George told The Gleaner: "There has been significant growth over this period which reflects the value of the trials to Jamaica and Supreme Ventures. We were trying to take it up a notch through the Go For Gold raffle. Through the raffle it went from a $10 million sponsorship to a $30 million one."

He added: "Clearly the raffle would not have put up 100 per cent of what the cost was, but it certainly assisted by allowing Jamaicans to participate and allowing us to be able to afford Jamaicans the opportunity to travel to London and watch the Games."