Nederlandse Loterij is the first main sponsor of TeamNL ©Getty Images

Nederlandse Loterij has signed on to be the main sponsor of The Netherlands' Olympic team for the next 10 years.

The lottery operator will be the first-ever main sponsor of the Olympic and Paralympic teams - branded as TeamNL - under a deal claimed to facilitate more support being offered for Dutch sport.

This sponsorship comes on top of an annual lottery payment made to bankroll Dutch sport each year.

That payment was a record €50.4 million (£44.2 million/$49.4 million) last year.

"With a partner such as the Nederlandse Loterij, which has had a direct connection with sport in our country for so long, we can achieve results in the next 10 years that will have a visible effect on society," Dutch National Olympic Committee*Dutch Sports Federation (NOC*NSF) general director Marc van den Tweel said.

"We set a clear ambition that connects top sport with the entire sector, with top sport being an important source of inspiration."

The deal covers five Olympic Games ©Getty Images
The deal covers five Olympic Games ©Getty Images

The partnership is set to span the Paris 2024, Milan Cortina 2026, Los Angeles 2028 and Brisbane 2032 Olympics, plus the as-yet-unawarded 2030 Winter Games.

TeamNL should also appear at various European Championships, European Games and other events during that span.

The new money will also feed into the NOC*NSF's ambition to transform The Netherlands into the sportiest nation in the world by 2032.

"TeamNL connects The Netherlands and creates a national sense of pride, with top performances at European Championships, World Championships, the Olympic Games and Paralympic Games," added Nederlandse Loterij chief executive Niels Onkenhout.

"By entering into a 10-year partnership with TeamNL, we strengthen the entire Dutch sport and we can do even more for a happy, healthy and sporty Netherlands."

Nederlandse Loterij is now a private company and operates various gambling schemes.