Footwear and apparel giant Nike has signed-on to be a sponsor for the U.S. Olympic Committee making them a participating sponsor/advertiser at the 2006 Winter Olympics in Torino, Italy, and the 2008 Beijing Summer Olympics.

(The exposure at the Beijing Olympics is thought to be especially attractive to Nike, which has made a big sales push in China and other parts of Asia in recent years.)

Under the deal, part of Nike's payment will be in the form of barter with the company outfitting all U.S. medal winners. It will also hold the official rights to apparel, headwear, footwear, and bags with the U.S. Olympic logo.