Los Angeles Olympic venues to feature corporate sponsors for first time

Corporate sponsors can now purchase venue naming rights for the 2028 Olympics in Los Angeles.

The move, which was announced Thursday by event organizers, marks the first time that private companies can add their names to stadiums hosting Olympic events. 

Olympic officials have long been reluctant to let brands slap their logos and names on playing surfaces and arenas. That tide is shifting after a push from Casey Wasserman, chairman of the LA28 organizing committee.

“We’re a private enterprise responsible for delivering these Games,” Mr. Wasserman told The Associated Press. “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.”

Corporate sponsorships are expected to account for $2.5 billion of the $7 billion budget for the Games, which Mr. Wasserman insists will be privately funded. Olympics hosted by non-American cities often receive financial support from the International Olympic Committee — Paris received $1.7 billion for hosting the 2024 Games.

“The IOC is always looking to recognize and support the critical role and contributions of Olympic commercial partners,” an IOC spokesperson told the Los Angeles Times. “We also want to support LA28 in their efforts to create new approaches and commercial opportunities, whilst maintaining the principles of the ‘clean venue policy’ that is unique to the Olympic Games.”

The Los Angeles organizers said they’ve acquired $1.75 billion in sponsorships.

The naming rights for 19 temporary venues are now up for sale.

Historic sites — like the Rose Bowl and the L.A. Coliseum — won’t be renamed for the Games. 

However, sites like Crypto.com Arena — the home of the Los Angeles Lakers and planned site for boxing and gymnastics — could be given a generic name if the current sponsor doesn’t agree to a deal with the organizers. 

Mr. Wasserman said he prefers sponsored names over generic replacements. 

“People know Crypto as Crypto. They don’t know it as ’the gymnastics arena downtown,’” he said.

Two sponsors have already agreed to deals with the Games’ organizers. The Honda Center will keep its current name as it hosts volleyball competitions. The squash venue will be named the Comcast Squash Center at Universal Studios, organizers confirmed Thursday. 

“It is a reality that many venues in L.A. and in the U.S. already have commercial naming rights and have become commonly recognized as such by the general public,” the IOC spokesperson said. “Therefore, following discussions, the IOC is supporting the LA28 initiative that takes into account market realities of venue naming and generates critical revenue to stage the Games.”

The rise of corporate sponsorships is the latest change for the Los Angeles Games. Mr. Wasserman noted that the private nature of the 2028 Games mandates a different approach. The organizers have already planned to change the traditional schedule of events — moving track and field to the first week and using the swimming events to close the Games.

“We spend the time, we do the work, we make the argument, and we don’t settle for a no because we don’t have that luxury,” he said.

The L.A. Games are scheduled to begin in less than three years, on July 14, 2028.

— This article is based in part on wire service reports.