The Jamaica Olympic Association has announced a historic partnership with Supreme Ventures Limited ©Twitter

The Jamaica Olympic Association (JOA) has announced it has agreed a "historic" partnership with Supreme Ventures Limited (SVL), a lottery and gaming company based in the country.

Under the three-year deal worth JMD45,000,000 (£224,000/$308,000/€263,000), the JOA will receive financial support which its President Christopher Samuda hopes can benefit several sports by inspiring the next generation of participants.

At a media conference to unveil the partnership Samuda said the deal "embodies a mutual commitment to use sport to inspire aspirations and to fuel ambitions of a generation of enterprising youth in motion in sport.

"This partnership is denominated in words of trust, trust that JOA and SVL can give life-giving blood to sport in oxygenating and transforming lives being lived in sport.

The JOA is hoping the new partnership with Supreme Ventures Limited can inspire the next generation of Jamaican sports stars  ©Getty Images
The JOA is hoping the new partnership with Supreme Ventures Limited can inspire the next generation of Jamaican sports stars ©Getty Images

"The Olympic values and ideals will characterise this partnership for the benefit of countless athletes and sport federations and through our Olympic Invest programme, will give pursuits in sport hope to the hopeless, courage to the discouraged, faith to the faithless, dreams to the undreamt, possibility to the impossible, realism to the unreal and victory in conquering emotions of defeat."

SVL was formed in 1995 and describes itself on its website as "the premier gaming and entertainment provider in Jamaica."

SVL has an established association with Jamaican sport, as a sponsor of the Jamaica Athletics Administrative Association National Championships and a supporter of Netball Jamaica.