ICBC gives all Olympic license plate revenue to VANOC revenue, plate, license, ICBC, Olympic

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ICBC gives all Olympic license plate revenue to VANOC
Deal made before the Games
Dave White Nov 02, 2010 06:50:51 AM
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VANCOUVER (NEWS1130) - ICBC says it's handed over all revenue from Olympic license plates to VANOC to support future Canadian athletes.  The organizing committee got an added bonus out of the deal.

A $16 million agreement was signed between VANOC and ICBC before the Games, says ICBCs Adam Grossman.  Most of that goes to supporting athletes, but some went to insuring the organizing committee's vehicle fleet.

Grossman says ICBC never made a profit.  "The original intention of this plate program was to give our customers a way to get involved in the Games and to give them a great memento of the Games."

He adds the plates have been very popular with nearly 200,000 out there and after the Games 10,000 were sold.

You can still get one until the end of this year, but a $25 annual charge applies until the end of 2012 if you want to keep the plate.