COLORADO SPRINGS - In a financial lift for the US Olympic Committee during tough economic times, Proctor and Gamble Company signed a sponsorship deal announced Tuesday with the US governing body.

Proctor and Gamble, which spends a world-high eight billion dollars annually on advertisements, has 17 brands that will be linked to the Olympics for the 2010 Vancouver Winter Games and 2012 London Summer Games.

Financial details were not released but the deal will help the USOC in the wake of sponsor pullouts by General Motors and Home Depot. Talks are under way to retain deals with Bank of America and communications giant AT and T.

"It's a very significant announcement for us," said USOC chief marketing officer Lisa Baird. "Procter and Gamble is a leading marketer and other companies look to them."

US Olympic logo merchandise, advertisements and partnerships with specific Olympians are part of the deal.