TORONTO - Canadian Tire has become a major player in Canada's Olympic movement.

Canadian Tire Corp. Ltd. (TSX:CTC) signed an eight-year mutli-level partnership deal with the Canadian Olympic Committee, calling it "one of the largest sets of sports partnerships ever undertaken in the country."

The company also announced partnership deals Wednesday with the Canadian Paralympic Committee, Hockey Canada, the Canadian Soccer Association, Canada Snowboard and Alpine Canada.

Canadian Tire CEO Stephen Wetmore said he's proud the company is joining the "likes of Bell, HBC and RBC as the country's top Olympic supporters.

"In fact, I believe we should have been here a long time ago."

Financial terms of the deals, announced at a downtown news conference, were not disclosed.