LA 2028 Olympic Breaks Tradition By Selling Venue Naming Rights
Synopsis
Los Angeles 2028 Olympics organisers have said that the city will be used to give their corporate name during the games. Comcast and Honda are the first two companies to announce having naming rights.…
Los Angeles 2028 Olympics organisers have said that the city will be used to give their corporate name during the games. Comcast and Honda are the first two companies to announce having naming rights. Organisers think this decision will help raise extra money for privately funded games and make it easy to recognise well-known places.
A Major Change To A Long-Held Olympic Rule
For decades, the Olympics kept their stadiums and arenas free from any corporate’s during the games. This was done to protect the official Olympic sponsor and keep the venues clean. Now the IOC has agreed to go for a new approach for LA28 Olympics as a pilot program. So this is the first time the rules have been changed.
The LA28 team argued that in the US, people know places by their company names mostly. They told the IOC that allowing familiar company names could help visitors and buyers to find venues more easily. The chairperson of LA 28 said that American sports have helped make their case
How The Naming Deals Will Work and Who Will Get Priority
LA28 said it can sell naming rights for 19 temporary venues and a handful of permanent sides. The organisers plan to offer rights to some of the IOC’s global sponsors, then to some key partners. Companies that already have naming rights for some stadiums can pay to keep their names visible during the Olympics.
Two early examples are the Comcast squash centre at Universal Studios, where squash will make its Olympic debut in 2028, and the second one is Honda Centre in Anaheim, which will host Olympic volleyball. Iconic sites like the Coliseum and the Rose Bowl are not part of the program and will keep their usual treatment.
LA28 budget is made mostly on private money and sponsorship. So officials say that selling naming rights can help them add extra income on top of existing sponsorship deals. Supporters of the plan also say that keeping familiar names for some sites will make it easier for fans to navigate Los Angeles and know which stadium is where.
FAQs
- Why is the LA28 Olympics selling naming rights?
LA28 Olympics is selling naming rights because it will add extra income to privately funded Olympics, and it will also help to easily navigate the sites.
- What are the companies taking naming rights in LA28?
For now, at the Comcast squash centre and Honda are the two companies that have taken venue names.
- Has any other country sold its naming rights for the Olympics before?
No LA is the first country who have sold its Olympic naming rights to other firms.
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