L.A. Olympics will be first to offer venue naming rights

More than 40 years after the most successful Olympic Games in history produced, the 2028 summer Olympic Games will offer a new advertising revenue for the Games.

In a first Olympic, the places used for the 2028 Olympic Games and Paralympic Games will be allowed to have names of corporate sponsors after the 28 and the International Olympic Committee were announced on Thursday.

Historically, the IOC has sought to limit the influence of companies by keeping the places free from advertising. The main sponsors are always omnipresent in games, where only visa credit cards are accepted and Coca-Cola products monopolize concession stands, but the places and areas of play remained without advertising. The traditional policy of specific places has forced the organizers of the to refer to the Sofi stadium, which will host the Olympic swimming, officially “2028 stadium” or “The Stadium in Inglewood”.

Not only will the new agreement logistically help by not forcing well -known sites to adopt generic temporary nicknames, but it will facilitate costs because existing signaling can remain in place outside the place.

“Our work is to push and our work is to do what is best for the Olympic Games in Los Angeles,” said the president of La28, Casey Wasserman, in Times. “Our work in these conversations [with the IOC] had to explain why it was more than money. It was a matter of experience, value and opportunity. »»

Additional income opportunities for denomination rights agreements will help cover what the 28 has promised will be a game funded by private.

Wasserman said the private organizing committee has contracts for around 70% of the planned national sponsorship target of $ 2.5 billion. Any money from new names for name is addition to previously estimated income, Wasserman said. Need to cover the budget of $ 7.1 billion, La28 added eight business sponsors this year, already exceeding the total of 2024.

“The momentum is significant and real,” said Wasserman. “We feel good where we are, but we certainly do not hold that for granted.”

For places that already have sponsorship names, such as Crypto.com Arena, BMO Stadium or Intuit Dome, the existing company can connect as a founding level partner to keep its names in name during the games, the highest level of national sponsorship. Otherwise, the place will be renowned without sponsor.

The changes have already started. La28 announced that the Honda Center will retain its name for the Olympic volleyball competition after the Japanese automaker established its agreement with La28 in June. Squash will make its Olympic debut at the Comcast Squash Center newly appointed to Universal Studios, because the company also holds American rights of American broadcasting on the Olympic and Paralympic Games.

The broadcasters can now refer to the premises with their names of corporate sponsors, offering a major world scene. Any signaling outside the place will remain in place for existing structures. Denomination rights are available for the 19 temporary installations, the first tendering opportunities to members of the Olympic Partners program (TOP).

But the field of play will remain free from visible sponsorships.

“The IOC always seeks to recognize and support the role and essential contributions of Olympic business partners, both superior and national. We also want to support the 28 in their efforts to create new approaches and commercial opportunities, while maintaining the principles of the own policy of its own place “which is unique at the Olympic Games,” a spokesman for the IOC told a declaration to the lukewarm. “It is a reality that many places in Los Angeles and the United States already have rights of business names and have commonly recognized as such by the general public. Consequently, after the discussions, the CIO supports the La28 initiative which takes into account the realities of the site of the name of the premises and generates critical income to stage the games. ”

With less than three years before the opening of the Olympic Games on July 14, 2028, the game delivery process came with challenges. Shortly after the IOC coordination committee left the city to elogious criticism of the progress of the 28 planning in June, the immigration raids and the demonstrations began in Los Angeles. This month, President Trump appointed president of a working group to supervise the involvement of the federal government in the games, but the concerns about security and visas for potential international visitors have persisted.

At La, where the City recently closed a budget deficit of nearly a billion dollars, transport updates have been late and managers are in negotiations with the Olympic organizers on services, in particular security, waste elimination and traffic control. Although the 28 has promised to cover all games related to games, taxpayers are always faced with potential risk.

If the group exceeds the budget, the would be responsible for the $ 270 million in the deficit.