Adidas Becomes Next Major Sponsor of 2012 London Olympics

With the 2012 Summer Olympics more than four years away, the sponsors are starting to line up.

Adidas has agreed to a deal worth $99.6 million to become the third major sponsor of the 2012 London Olympics, according to the London Telegraph.

The agreement is expected to be formally announced on Thursday during a press conference featuring U.S. sprinters Tyson Gay and Allyson Felix.

Adidas joins Lloyds TSB and French energy company EDF. Those two firms paid about $159.3 million and $99.6 million, respectively, as top sponsors. The deal brings LOCOG "a step closer to realizing the $3.98 billion target they have set for staging the 2012 Games," the newspaper said.