In an Olympics first, the organizing committee for the 2028 Olympic and Paralympic Games is selling naming rights for event venues.
In a statement, LA28 said the move will create a new revenue stream for the commercial joint venture between the local organizers and the U.S. Olympic & Paralympic Committee.
Two venues already carry naming rights under the plan — Comcast Squash Center at Universal Studios and Honda Center in Anaheim, home to the volleyball competition. The squash competition will be at Universal Studios Courthouse Square, which provided the setting for the famous clock tower scene from “Back to the Future.”
“From the moment we submitted our bid, LA28 committed to reimagining what’s possible for the Games,” said LA28 Chairperson and President, Casey Wasserman. “Today’s historic announcement delivers on that promise, creating the first-ever venue naming rights program in Olympic and Paralympic history while advancing LA28’s mission of a fully privately funded and no-new-build Games.”
Under the new pilot program, some LA28 corporate partners will keep existing venue naming rights. Also, the opportunity to buy venue naming rights for up to 19 temporary venues will be available to international partners of the Olympics.
The LA 2028 Olympics Opening Ceremony is July 14, 2028 with competition through July 30, 2028. The LA28 Paralympic Games will kick off Aug. 15, 2028 and close Aug. 27, 2028.
Last month, LA28 released its first look at the Olympic competition schedule. LA hosted the Olympics in 1932 and 1984.
Source: NBC Los Angeles
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