Stephen Colbert, host of Comedy Central’s The Colbert Report, has become one of the most famous and influential figures in America since his show first aired in October 2005. His show parodies the style of conservative TV talk show hosts, and his egomaniacal bluster has gained him a significant following, known as “Colbert Nation.”

Since his meteoric rise, Colbert has come to wield an influence far beyond his late-night TV show. He has appeared at the White House, been called the “Voice of a Generation,” and even has a treadmill named after him at the International Space Station. However, until now, Colbert has mostly stayed out of the sports world, mainly confining himself to political satire and fake punditry.

However, when the U.S. Speedskating team lost its chief sponsor, the defunct Dutch bank DSB, Colbert stepped in. Though now the team’s principal sponsor, Colbert himself didn’t forward the $300,000 needed for the team to attend the Vancouver Olympic Games in February; the team will be financed by donations from Colbert Nation, and the money has already been raised. The team’s uniforms will feature the Colbert Nation logo.

Colbert’s decision to sponsor the team has generated a significant reaction. U.S. Speedskating has been enthusiastic about the initiative. Its executive director appeared on The Report to encourage Colbert Nation to donate to the team, and short-track star Apolo Anton Ohno has also sounded his approval about the idea. Announcing the initiative, Colbert said, “On their enormous, billboard thighs, it will say, ‘Colbert Nation’… Be looking for that logo as it comes around the final turn. It will be easy to see because it will be in first place.”

While most of the skaters seem amenable to the Colbert Nation sponsorship, Shani Davis, one of the U.S.’s top stars, called Colbert a “jerk” in an interview with a Canadian newspaper. Davis’ comments came in response to a question about Colbert’s criticism of Canadians on his show, which included an attack on Vancouver officials for denying international athletes access to Olympic venues. Colbert has called Canadians “syrup-suckers” and “iceholes” on his show.    Colbert’s sponsorship has also drawn a great deal of attention to speedskating, historically America’s best sport in the Winter Olympics. Colbert recently appeared on the cover of Sports Illustrated and discussed in the magazine how his TV persona views the Olympics. He said, “It’s a way to prove who’s got the best country. Only nobody gets hurt.”

Clearly, this sponsorship deal benefits both Colbert and U.S. Speedskating, and I don’t think it was a bad idea for Colbert to get his Nation involved in the Olympics. American interest in the Games is in decline, especially concerning the Winter Olympics. Endorsement and attention from a popular figure can only be beneficial to the entire U.S. effort to bring home gold from Vancouver. The success of Colbert’s partnership might also entice other prominent figures to lend their support to the U.S. Olympic program in 2010 and beyond.

The sponsorship deal is also revolutionary in that it relies on fans, rather than corporate sponsors, for the team’s funding. Of course, the fundraising success is partially due to the fact that Colbert’s followers are passionate and close to cult-like. Starting with these games, however, the U.S. Olympic Committee has the chance to try and get more fan involvement with American teams, as a way to both provide funding and further boost interest.

The benefits the sponsorship will bring to Colbert and his show are not quite as clear. Certainly, he will get a bump from the free publicity generated by his move (such as the aforementioned Sports Illustrated cover). The initiative also fits Colbert’s TV personality: ardent patriotism is a critical part of his persona and sponsoring a struggling U.S. team is a great way to promote his red, white and blue attitude. Indeed, Colbert has constantly referenced the speedskating team on his show recently, providing the Colbert Nation with regular updates on the skaters’ progress and busting out the SI cover in his typical self-aggrandizing manner.

For now, we should stop thinking about the long-term effects of this new kind of partnership and just enjoy watching our team bring home gold in February. Olympic teams have given America some of its most uplifting moments and I look forward to seeing the Colbert Nation logo on top of the medal podium next month.