Length of contract: 1 year | Annualised value: US$3 million | Overall value: US$3m

The Vancouver Organising Committee for the 2010 Olympic and Paralympic Winter Games (VANOC) has signed US-based XP Events as the retail concessionaire service provider for its official licensee programme.

XP will design, build, staff and operate retail concessions at all venues for the Vancouver 2010 Olympic Winter Games and operate 60 retail kiosks at 15 venues.

The concessions will create 250 temporary jobs. 

Denver based XP is a privately held, and describes itself as a "multi dimensional consumer products company". 

Dennis Kim, VANOC director of licensing and merchandising said: "XP is known for creating some of the most compelling in-venue retail shopping spaces in the international sporting and entertainment event industry."

Kim also confirmed that sales have been very strong for the licensee program.

XP has previously worked for clients such as Barcelona football club Tour 2008, IIHF World Hockey, FIFA, Tour de France and the NBA. The company will work closely with the other 40 Vancouver 2010 licensee holders.

The value of the deal is dependant on sales, but XP is thought to have paid VANOC an initial fee of US$1 million to secure the deal and it is thought it will be worth up to US$3 million in royalties.