The organising committee for the Los Angeles Olympics says some deals are already in place for the 2028 Games.
Organisers of the Los Angeles Olympics will sell naming rights for a handful of its venues in deals expected to bring multiple millions of dollars to the 2028 Games while breaking down the International Olympic Committee’s long-sacrosanct policy of keeping brand names off its arenas and stadiums.
The organising committee announced the landmark deal Thursday, saying contracts were already in place with two of its founding partners – Honda, which already has naming rights for the arena in Anaheim that will host volleyball, and Comcast, which will have its name on the temporary venue hosting squash.
LA28 chairman and CEO Casey Wasserman said revenue from the deals goes above what’s in LA’s current $6.9bn budget.
He portrayed the deal as the sort of paradigm-shifting arrangement that Los Angeles needs more than other host cities because, as is typical for American-hosted Olympics, the core cost of these Games is not backed by government funding.
