LA28 ramps up sponsorship efforts to secure funding goal
With momentum from Paris 2024, Los Angeles 2028 intensifies its commercial strategy to secure $2.5 billion in sponsorships.
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With momentum from Paris 2024, Los Angeles 2028 intensifies its commercial strategy to secure $2.5 billion in sponsorships.
John Slusher, CEO of United States Olympic & Paralympic Properties (USOPP).
Following the commercial success of Paris 2024, the organizers of the Los Angeles 2028 Olympic Games (LA28) are intensifying their efforts to secure $2.5 billion (€2.4bn) in sponsorships. This funding is a critical component of the Games' $7 billion (€6.7bn) budget, ensuring financial sustainability for the multi-sport event.
In a report for Inside the Games, Javier Carro detailed how this strategy was a focal point at the recent Strategic Partners Summit, held at the W Hollywood hotel. Organized by the LA28 committee and the United States Olympic & Paralympic Committee (USOPC), the meeting gathered 18 sponsors from the United States Olympic and Paralympic Properties (USOPP) and 10 from the global Olympic program TOP (The Olympic Partner). Attendees received insights on leveraging commercial agreements and maximizing brand activation for the Games.
John Slusher, CEO of USOPP, highlighted the surge in interest since Paris 2024 concluded. "We have seen exponential growth in sponsor engagement for LA28. This will be a unique opportunity," Slusher stated. Currently, sponsorship revenue stands at $1.2 billion (€1.15bn), with projections indicating an additional $700 million (€672m) by year's end, bringing the total close to $2 billion (€1.92bn).
LA28's commercial focus is twofold: attracting new sponsors and strengthening existing alliances. Delta and Comcast are currently the only top-tier partners, while key sponsorship categories such as financial services, energy, logistics, and automotive remain open for investment. Although LA28 secured five new sponsors last year—Autodesk, Cedars-Sinai, Cisco, Dick's Sporting Goods, and Guild—it also lost a major partner, Salesforce.
"We are in advanced discussions across multiple sectors and expect to close more deals this year than in all of 2023," Slusher revealed. Additionally, the committee is negotiating with Silicon Valley tech firms to integrate digital innovations into event management and fan experiences.
The financial success of LA28 will not only shape the perception of the Games within the U.S. but also set the stage for the Salt Lake City 2034 Winter Olympics. Sarah Hirshland, CEO of USOPC, emphasised the impact of a well-executed event: "Paris 2024 has sparked excitement for Milano Cortina 2026. Strong public engagement carries over to the next edition. This is vital for LA28 and, ultimately, Salt Lake City."
Beyond financial goals, LA28 prioritises sustainability and social responsibility to secure community and governmental support. The Los Angeles City Council, facing budgetary concerns, closely monitors the Games' revenue progress to avoid potential financial strain on public funds.
The LA28 organising committee is undergoing rapid expansion, with its workforce growing to 250 members. Gene Sykes, chairman of the USOPC Board of Directors, noted, "The LA28 team is taking shape, and it feels more real every day." CEO Reynold Hoover expects the team to double by year-end, underscoring the urgency of efficient operational planning.
Another significant step is the relocation of LA28’s headquarters from Westwood to downtown Los Angeles. "The heart of the Games will be in the city centre, and we need to be there," Hoover explained. This move aligns with final venue planning, set for presentation to the International Olympic Committee (IOC) in April.
While most venues are confirmed, locations for baseball, flag football, and cricket are still being finalised. Hoover assured, "Cricket will be played on the West Coast, putting to rest speculation about an East Coast location." Meanwhile, preparations continue for transportation and security infrastructure to meet Olympic standards.
Beyond logistics and financial targets, LA28 aims to redefine the Olympic experience. "I want Brisbane 2032 to ask, 'How do we top this?'" Hoover stated, underscoring the ambition to set new benchmarks in technology and sustainability. Collaborations with experts will ensure a low-carbon, eco-friendly Games.
To foster national unity, the Olympic torch relay will journey through all 50 states before reaching Los Angeles. "This isn’t just Los Angeles’ Olympic Games; it's America’s Olympic Games," Hoover remarked. Community and educational initiatives will further promote inclusion and diversity within the American Olympic movement.
With less than four years to go, LA28 is at a pivotal juncture. Sponsorships, strategic planning, and public engagement will determine its success. As Slusher reminded sponsors at the Hollywood summit: "If you want to be part of this, it's now or never."
