Sponsorship for PR Services?

Presumably PR firms understand the enormous value of aligning with the Olympic games. They understand, but how will they value it when it comes to their own bottom line? That's what PRWeek asks today.

London 2012 has asked PR firms bidding for the Games business to consider Value-In-Kind sponsorship of London 2012, presumably in lieu of some payment.

PR Week writes:

The lowest sponsorship tier is worth approximately £10m, causing some sources involved in the process to question the clause. 'The account is worth about £2m over the next two and a half years. So why would you put up £10m (in services)?'

PRWeek says agencies from WPP, Chime Communications, Publicis Groupe, Interpublic Groupe and Edelman are pitching for the account.