CIBCs $4 million sponsorship of the ACA is the largest in the history of the organization, as well as the biggest sponsorship commitment made to any of Canadas sports programs.
The third round of funding was confirmed in Toronto last week when members of ACA, the national team, disabled team and former Crazy Canuck Steve Podborski kicked off the 2004-05 season with a press conference.
ACA president and former Crazy Canuck Ken Read accepted the cheque from CIBC, pledging to continue the organizations drive to put athletes on the podium.
"Over the past year, Canadian ski racing has undertaken several bold initiatives to ensure we build a team of contenders and a program that will consistently produce champions," said Read. "We are on a national mission to put Canadians on the podium and to provide them with the financial, technical and human resources required to win against the worlds best."
CIBCs contribution is focused on four areas.
The Athlete Sponsorship Program provides direct financial assistance to athletes, including Nanaimos Allison Forsyth, Canmores Thomas Grandi and Quebec skiers Erik Guay and Julien Cousineau.
CIBC is also the title sponsor of the Lake Louise Winterstart World Cup, where Guay made history last year with a silver medal in the downhill, the second Canadian male to ever reach the podium on a home course. Rob Boyd was the first with his win at Whistler in 1989.
CIBC is also a title sponsor for several Nor-Am Cup events, which help younger athletes gain the experience and FIS points they need to take the next step to World Cup.
Finally, CIBC sponsors the CIBC Go for Gold fundraiser in Toronto, which raises funding directly for athletes.
CIBC has the option to renew its four-year $4 million commitment to the team in 2006 and 2010.