The battle is over between the maker of Ultimate Nutrition protein-shake powder and the organizers of country’s largest bodybuilding competition, which starts Thursday in Las Vegas, who fought over advertising banners that would hang at the entrance to the event.
A new deal between the organizers of the Mr. Olympia contest and Connecticut-based Ultimate Nutrition Inc., which makes workout supplements, has prompted the manufacturer to drop its complaint that the banner advertisements could unfairly highlight the company’s competitors.
Earlier this year, Ultimate Nutrition paid to become the “exclusive title sponsor” to the event, which is expected to draw more than 50,000 people. Arnold Schwarzenegger took the competition’s top title several times in the 1970s. Mr. Olympia organizers argued they could indeed sell the promotional space.
The two sides made peace after Mr. Olympia organizers offered “certain other advertising and promotional opportunities” to Ultimate Nutrition, according to documents filed in U.S. Bankruptcy Court in Hartford. The deal was approved by Judge Ann Nevins on Friday.
Officials for Ultimate Nutrition signed a $626,800 sponsorship contract in May, enabling it to become the exclusive title sponsor for a seventh year, court documents said.
This weekend’s events could put much-needed spotlight on Ultimate Nutrition, which filed for bankruptcy on Dec. 17 blaming regulatory scrutiny. The 200-worker company said it struggled to make up for a $1 million loss in 2012 after having to pay “millions of dollars of one-time temporary labor charges incurred due to labor strife and onerous regulatory requirements,” according to company officials who did not provide more details about the labor charges.
The company was founded in 1979 by Victor Rubino, a former bodybuilder who died in 2003. It is projecting to take in more than $35 million in revenue this year, according to court papers.