TORONTO -- Canadian Tire has become a major player in Canada's Olympic movement.
Canadian Tire Corp. Ltd. (TSX:CTC) signed an eight-year mutli-level partnership deal with the Canadian Olympic Committee, calling it "one of the largest sets of sports partnerships ever undertaken in the country."
The company also announced partnership deals Wednesday with the Canadian Paralympic Committee, Hockey Canada, the Canadian Soccer Association, Canada Snowboard and Alpine Canada.
Canadian Tire CEO Stephen Wetmore said he's proud the company is joining the "likes of Bell, HBC and RBC as the country's top Olympic supporters.
"In fact, I believe we should have been here a long time ago."
Financial terms of the deals, announced at a downtown news conference, were not disclosed.
Wetmore said Canadian Tire will be signing sponsorship agreements with individual athletes, and also announced a program to provide flexible employment to the country's 1,800 carded athletes.
Canadian Tire already had existing partnerships with the NHL, NASCAR, Canada Games, Canadian Sports Hall of Fame, hockey players Sidney Crosby and Jonathan Toews, and Toronto Blue Jays star Brett Lawrie.
The company recently announced a sponsorship deal with Skate Canada.
Following the announcement, 5,000 Canadian Tire employees held a rally at the Air Canada Centre in celebration of the partnership.