The International Olympic Committee announced Friday that they have no problem with BP's sponsorship of the 2012 London Olympics, the AP reports.
BP signed on as a sponsor in July, 2008, in a deal worth an estimated $76 million. At that time, the company committed to supplying fuel for 4,700 official Olympic vehicles, and Liquefied Petroleum Gas for catering and technical support.
IOC president, Jaques Rogge, said the committee is comfortable with BP's sponsorship as long as BP takes "corrective measures" to clean up the oil spill in the Gulf of Mexico. If BP is found negligent in the spill, Rogge said it is up to the London organizers whether or not to keep BP as a sponsor of the 2012 London Olympics.