Come 2028, Los Angeles will change the Olympic brand completely. It should resonate with the transformative effects felt by Los Angeles after the 1984 Summer Games. Under the leadership of Casey Wasserman, chairman and CEO of LA28, the organizing committee aims to deliver a groundbreaking Olympic experience that departs from traditional funding models. Unlike other major sporting events, LA28 will not use any government dollars to cover the basic costs of putting on almost a $6 billion private enterprise. Budget for the event so far stands at $6.9 billion.
LA28 is testing new ground — big, risky, exhilarating ground — by making naming rights available for as many as 19 temporary venues. This is an unprecedented first in Olympic history! This proposal is intended to increase revenue outside the confines of the existing budget. That would strengthen the long-term financial sustainability of the Games as a whole too. Wasserman has been making this approach known to members of the International Olympic Committee (IOC). As he put it, arena and stadium names are at the heart of the U.S. sports culture.
Track and field events occur throughout the opening week, but most swimming competitions will conclude at the end. One other change is intended to make things faster and more fun for athletes and fans alike. In addition to the continuation of these new sports, traditional sports will return, with softball and baseball rejuvenated back into the mix.
Flag football will make its Olympic debut, thanks in large part to a partnership with the NFL. This introduction reflects a growing trend of incorporating popular American sports into the Olympic framework, appealing to a broader audience.
LA28 has already announced contracts with founding partners like Honda and Comcast, locking in the foundation of its financial base even more. Perhaps more interestingly, major venues such as Crypto.com Arena will be used to host gymnastics and boxing competitions for the Games. The LA Coliseum, Rose Bowl and Dodger Stadium are all legendary venues. They won’t be participating in the new naming rights deal.
As cool as these innovations may be, IOC regulations are still very much a kill-joy. They will stand firm against any advertising being allowed in the field of play. This delicate act of balancing commercial opportunities while upholding the integrity of Olympic traditions continues to be a focus for LA28.
Los Angeles of course is preparing to host its own once-in-a-lifetime experience. LA28’s innovative, smart, and strategic approach will be key in dictating the future of the Olympic Games. We dig into the branding, revenue generation and creative scheduling that goes into it. This commitment guarantees that athletes and fans alike have an incredible experience.
