Organizers of the Los Angeles Olympics have announced plans to sell naming rights for several venues, a move expected to generate millions of dollars for the 2028 Games. This decision marks a significant shift from the International Olympic Committee’s long-standing policy that prohibits brand names on its arenas and stadiums. The organizing committee revealed the deal on Thursday, confirming that contracts are already in place with founding partners Honda, which has acquired naming rights for the Anaheim arena hosting volleyball, and Comcast, set to name the temporary venue for squash.
LA28 chairman and CEO Casey Wasserman indicated that the revenue generated will exceed the current $6.9 billion budget for the event. He described this initiative as a necessary, groundbreaking step for Los Angeles, highlighting that, unlike other host cities, the financing for these games typically relies on private funding rather than government support. “We’re a private enterprise responsible for delivering these games,” Wasserman stated in a recent interview. “It’s my job to push. That doesn’t mean we’re going to win every time we push, but it’s our job to always push because our context is pretty unique.”
Wasserman also emphasized to IOC members that venue names are integral to the American sports culture. He pointed out that fans know “Crypto” as the name of the crypto exchange, not as the gymnastics arena downtown-referring to the Crypto.com Arena, which will host gymnastics and boxing during the Games.
The agreement presents an opportunity for naming rights for up to 19 temporary venues, with the IOC’s top sponsors getting the first chance to participate. Wasserman assured that no existing venues will change names; for example, if a deal with SoFi for the opening and closing ceremonies or with Intuit for basketball falls through, no other sponsors can claim rights to those venues.
Prominently, the arrangement does not extend to iconic sites like the LA Coliseum, Rose Bowl, or Dodger Stadium, which have historical significance for a city that previously hosted the Olympics in 1932 and 1984.
Original Source: https://theshillongtimes.com/2025/08/15/la-olympics-to-sell-naming-rights-to-some-venues/
Category: SPORTS
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Publish Date: 2025-08-15 05:58:00
