“…It may be true that enhancing image and increasing brand and corporate awareness improve the overall sales and profitability of corporate sponsors (Cornwell & Maigan, 1998). However, sport sponsorship research relating marketing paradigms has heavily focused on understating psychological or intangible benefits (i.e., brand value, awareness, and equity) using survey methods, which require the recall of past experience or perception in evaluating corporate sponsorship activities (Cornwell, Pruitt et al, 2005;Fahy, Farrelly, & Quester, 2004;Fry;Harvey); that is, little research has been directed toward measurement issues in relation to the effectiveness of commercial sponsorship (Cornwell, Pruitt et al, 2005;Harvey;Ma, Tang, & Hasan, 2005;Smolianov & Aiyeku, 2009;Spais & Filis, 2008). Over recent years there has been growing academic literature studying the economic importance of the Olympic Games and particularly their effects on the economies of the hosting countries (Kasimati, 2003).…”