Canada's Games might only get by with a little help from their American friends. Talks are under way with several states on agreements that would see them pay into the 2010 Olympics in exchange for limited marketing rights, the Olympic organizing committee said yesterday.

The U.S. views Vancouver's Winter Olympics as a "home" Games, said John Furlong, chief executive officer of the organizing committee, known as VANOC.

"It's a big deal for them and I think the idea of creating some kind of association is attractive for that reason, because there is going to be a very big glow on this region of the world next February," he told reporters after the committee's board meeting.

The hunt for money comes as organizers admit they'll likely use up their entire $27-million rainy-day revenue fund.

Organizers haven't been able to sell $12-million worth of outdoor advertising, they have downgraded forecasts for sales of VIP ticket packages, and also don't expect to make as much from the sale of their assets as anticipated.

Meanwhile, they await a $30-million payment from the International Olympic Committee, which has yet to sign the final two international sponsors for the Games.

Talks on signing those sponsors are going better now than they were a few months ago, said Dave Cobb, the committee's deputy CEO. "There is still a lot of activity and there is a degree of confidence that they will conclude agreements going forward," he said.

The committee is also moving forward with plans to slash expenses, including getting local businesses involved in a program that sees them contribute goods in exchange for tickets and other perks.

The revenue contingency fund was put into VANOC's $1.76-billion budget in January after October's economic crash. It is separate from a $50-million operational contingency, in place in case the Games cost more to run than expected.

While they remain on the hunt for new money, organizers have now reached their target of $756.8-million in domestic sponsorships with the signing of a new supplier. B.C.-based Alda Pharmaceuticals is the official supplier of hand sanitizer and disinfectant cleaning products, which will see them make an in-kind and cash donation worth between $3-million and $15-million.

Organizers wouldn't disclose which U.S. states they are approaching about becoming sponsors.

Dave Guscott, VANOC's vice-president of government relations, said with today's economy, states "want to increase the economic impact and benefits for their jurisdiction."

The committee also announced yesterday that its venue contingency fund stands at only $310,000, after $1.02-million was taken out to cover costs at the Whistler Athletes' Centre, Cypress Mountain and Vancouver Olympic/Paralympic Centre.