The Los Angeles Olympic Games sell for names on certain sites in accordance for 2028 for 2028

The organizers of the Los Angeles Olympic Games will sell denomination rights for a handful of its sites in the agreements that should bring back several million dollars to the 2028 games while decomposing the long policy of the International Olympic Committee to keep the brand names of its arenas and stadiums.

The organizing committee announced the historic agreement on Thursday, claiming that the contracts were already in place with two of its founding partners – Honda, who already has naming rights for the arena in Anaheim who will host volleyball, and Comcast, which will have its name on the temporary site that will host the squash.

The President and CEO of La28, Casey Wasserman, said that transactions income exceeds what is in the current budget of 6.9 billion US dollars.

He described the agreement as the type of paradigm transfer arrangement of which Los Angeles needs more than the other host cities because, as it is typical of the Olympic Games hosted by the Americans, the fundamental cost of these games is not supported by the funding of the government.

“We are a private company responsible for the delivery of these games,” said Wasserman in an interview with the Associated Press. “It is my job to push. It does not mean that we are going to win each time we push, but it is our job to always push because our context is quite unique.”

Wasserman said he had also spent time explaining to IOC members how arena and stadium names were part of the lexicon in American sports.

“People know ‘crypto’ as ‘crypto’, they do not know it as” The Gymnastics Arena Downtown “,” said Wasserman about the Lakers Maison, Crypto.com Arena, which will welcome gymnastics and boxing in 2028.

Rights for up to 19 temporary sites could be available. The biggest sponsors of the IOC, titled Top Sponsors, will have the first chance to conclude the offers. Wasserman said that no places will be renowned – therefore, for example, if the organizers do not reach an agreement with Sofi (opening and fence ceremonies, swimming) or intuits (basketball), no other sponsor can put his name on the arena.

This new arrangement is the Memorial Coliseum, Rose Bowl and Dodger Stadium, some of the most emblematic places of a city that hosted the Olympic Games in 1932 and 1984. The organizers said that the CIO rules prohibit advertising on the playground will always apply.

The agreement is added to a growing list of lossed accommodation for Los Angeles, which is once again on the point of reshaping the Olympic brand, as it did in 1984.

In 2017, the city bid for the 2024 Olympic Games against Paris, but agreed to welcome the 2028 games instead. It was part of a then unknown supply process which saved the IOC of reality that cities became reluctant to absorb the cost and efforts to submission and host the summer games.

Olympic observers saw the return of softball and baseball for 2028, as well as the introduction of Football Flag (with the help of NFL) as changes that only Los Angeles could have removed.

It will also bring it a major planning change for the Olympic Games, moving from athletics to the opening week of games and swimming until the end.

Wasserman said that the position of the organizing committee as a private entity plays a major role in its relationship with the IOC.

“We spend time, we do the work, we do the argument and we were not satisfied with a” no “because we do not have this luxury,” he said.