The agreement will see Niro Investment provide support to the Romanian team in the build-up to the Rio 2016 Olympic Games and also offer financial rewards to athletes who secure a medal at the Games.

Niro Investment is a holding company made up of 20 firms from a range of industries including consumer goods, food, construction, security and protection, real estate and leisure.

COSR President Alin Petrache signed the agreement with Niro Investment director general Vasile Gabriel Nita at Olympic House in Bucharest.

"[The] Romanian Olympic and Sports Committee is the standard performance in Romanian sport and our partner Niro Investment is in turn a measure of business performance," said Petrache, who replaced Octavian Morariu as COSR President in May.

"We have brought together features and common goals.

"Both institutions are characterised by professionalism and seriousness.

"Both [the] Romanian Olympic and Sports Committee and Niro Investment want [to] achieve excellence, and this partnership brings us together to support each other in achieving the common goal."

Romania sent 24 athletes to Sochi 2014 but failed to win a medal.

At London 2012, Romania won nine medals, including two golds for shooter Alin Moldoveanu and gymnast Sandra Izbasa.

The announcement of the deal with Niro Investment comes in the week that the COSR is preparing to celebrate 100 years in existence.

European Olympic Committees (EOC) President Pat Hickey and members of the EOC Executive Committee are scheduled to take part in celebrations in Bucharest on Friday (September 12).

The EOC will also hold an Executive Committee meeting during its stay in the Romanian capital.

EOC President Pat Hickey will be a special guest at the COSR's centenary celebrations this week ©AFP/Getty Images



Established in 1914, the COSR has sent teams to every edition of the Olympics since then except for the 1932 and 1948 Summer Games and 1924 and 1960 Winter Games.

In that time Romania has won a total of 302 medals including 88 gold.

The country's most successful Olympics came at the Los Angeles Games in 1984, when it was the only Eastern Bloc country to not take part in the boycott of the event led by the Soviet Union.

Romania won 53 medals in Los Angeles, including 20 gold, 16 silver and 17 bronze.

Gymnastics has been by far the country's most successful sport providing 72 medals, 25 of which have been gold.

The most famous Romanian is Nadia Comaneci who at the age of 14 created history by becoming the first woman to score a perfect 10 in an Olympic gymnastics event at Montreal 1976.

She received seven perfect scores and won three gold medals for the uneven bars, balance beam and individual all-around, together with a bronze medal as part of the second-place Romanian national team.

One of Romania's most famous Olympic athletes, Nadia Comaneci, will be part of the COSR centenary celebrations in Bucharest ©Getty Images




All surviving Olympic medallists have been invited to attend the celebrations, revealed Petrache.

"We want to mark the anniversary as it deserves," added the former Romanian rugby team captain, who also serves as the President of the country's Rugby Federation.

"We will be proud and happy to have them with us.

"We are proud of those who have brought us Olympic medals.

"The celebrations for the Romanian NOC's centenary is a key event in Romania's sports history and we want to celebrate it with them."

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