(FORTUNE Magazine) – So far only Sara Lee, NationsBank, Home Depot, and IBM have taken $40 million corporate sponsorships for the 1996 Atlanta Olympics. Eight or nine sponsors were expected by now. Make-or-break TV contract talks won't take | place till July. Spokesman Bob Brennan insists, ''Our games have raised more money at this point in the process than any other games in history.'' Nobody foresees a replay of the 1976 Montreal fiasco. But financing is behind schedule. Forecast profits have been cut $100 million. Can that mascot keep smiling?

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