New Delhi, Jan 21 (IANS): The Indian Olympic Association (IOA) on Thursday announced that sports management firm IOS Sports & Entertainment will be its exclusive commercial and marketing rights partner for the next two years.

This is the first time in the history of IOA that any professional sports marketing agency has been appointed to generate sponsorship revenues for the Indian contingent that will participate in the Olympics to be held in Rio de Janeiro from August 5 to 21.

Th deal involves getting sponsorships, handling operations and all media & PR related work. With this mandate, IOS will strategise IOA's commercial plans. IOS is also planning to develop some intellectual properties in partnership with IOA.

IOS is targeting a minimum revenue of Rs.10-Rs.12 crore through principle and associate sponsors as well as partners for the upcoming Rio Olympics.

Commenting on the new association, IOA president N. Ramachandran said "I would like to welcome on board IOS Sports & Entertainment as our exclusive sports marketing agency. We are sure they will deliver their best while working with IOA."

Speaking on the initiative, IOS chief executive Neerav Tomar said "It is a matter of great pride to be associated with IOA. We will strive to deliver our best in all areas - sponsorships, building intellectual properties, operations and media & PR."