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London Olympic chief Coe backs BP sponsorship

LONDON (AP) — London Olympics organizing chief Sebastian Coe says he has confidence in BP's continued sponsorship of the 2012 Games.

The troubled oil company is a top-tier sponsor of the London Olympics in a deal valued at around $58 million. BP has come under criticism in the United States for its handling of the massive oil spill in the Gulf of Mexico.

Coe described BP on Friday as a "valued and trusted partner." He says "they clearly have a big issue to deal with and are dealing with it as a world-class company."

BP became a London Olympic sponsor in July 2008. The company is also a sponsor of the U.S. Olympic Committee.