LA28 anticipates a $2 billion year-end sales goal despite a sluggish start in dealmaking
The Los Angeles Organizing Committee for the 2028 Olympic Games is ramping up its quest for the $2.5 billion in domestic sponsorships, with LA28 chairman Casey Wasserman setting a target of at least $2 billion in corporate revenue by year's end. Despite mum on specific revenues, Wasserman revealed that they've surpassed the $1.5 billion mark.
The long 11-year lead time between securing the Olympics and the actual event has brought some challenges to Wasserman's team. Typically, committees get a shorter seven-year window to strike deals. Wasserman acknowledges this unique situation, stating, "People buy when they want to buy, not when you want to sell."
Predicting a flurry of announcements in the next couple of months, Wasserman remains optimistic about hitting their stride. They're still pursuing deals in key categories like financial services and automotive. Notable departures, such as Salesforce exiting their partnership prematurely, left LA28 with just two founding partners, Comcast and Delta, earlier. However, they've added newer sponsors, such as Cisco and Aecom, joining older USOPC partners on the same level as Nike and Ralph Lauren. Legends serves as the sponsorship sales agency for the 2028 Olympic and Paralympic Games and Team USA.
LA28 organizers are gearing up for the Winter Games in Italy (Milan and Cortina d'Ampezzo) this February, followed by the 2028 Summer Olympics, the first one in the United States since 1996.
Immigrant issues, specifically foreign athletes gaining entry, have been at the forefront of Wasserman's thoughts lately. He's had multiple meetings with President Donald Trump to ensure a smooth visa process. Despite lingering travel restrictions, Wasserman is confident about welcoming the world to the Olympic Games. He announced that all baseball games will be hosted at Dodger Stadium and all cricket matches at a temporary facility in Pomona, Calif.
LA28's efforts have already paid off with major partnerships like Comcast, Delta Air Lines, and Honda, the latter joining as a Founding Partner in a landmark deal[1][2]. With NBCUniversal, the USOPC, and other big-name brands like Airbnb and Coca-Cola in their orbit, the committee is likely to forge more partnerships to cement its sponsorship goals[2].
(Enrichment Data)LA28 has secured six commercial partnerships, with a realistic goal to reach 80% of their $2.5 billion sponsorship target by the end of the year[1]. They've announced significant partnerships like Honda becoming the first new Founding Partner in four years[1][3]. Despite these achievements, the committee is actively pursuing partnerships in various sectors to meet their sponsorship goals[3].
[1]: LA28 Adds Honda as Founding Partner in $2.5B Sponsorship Push[2]: LA28 Olympic Committee: Sponsorship, Partnerships, and Marketing Strategy[3]: LA28 Readies for 2028 Olympic Games: A Closer Look at Sponsorship and Partnership Efforts
People from the LA28 organizing committee are aggressively pursuing deals in various sectors like financial services and automotive, aiming to meet their target of $2 billion in corporate revenue by the end of the year. Despite some departures, they've managed to secure notable partnerships such as Cisco and Aecom, joining older partners like Nike and Ralph Lauren.
In sports, immigrant issues concerning foreign athletes gaining entry have been a focus for LA28's chairman Casey Wasserman. He's been in discussions with President Donald Trump to ensure a smooth visa process for the upcoming Olympic Games.
