Los Angeles 2028 appoints agency to realize $2.5 bn sponsorship sales target

Los Angeles 2028 Olympics and Paralympics,los angeles 2028 legends,2028 Olympics games Los Angeles,Los Angeles 2028 Olympics,los angeles 2028 games
Advertisement

Los Angeles 2028 Olympics and Paralympics Organising Committee has announced Legends as their official sponsorship sales agency in a ten-year deal for the 34th edition of the world’s biggest multi-sport spectacle.

Legends, a marketing and hospitality company controlled by the Major League Baseball (MLB) outfit New York Yankees and National Football League (NFL) franchisee Dallas Cowboys, has been named sponsorship sales agent for the LA 2028 Olympics and Team USA.

The company, put in charge of securing $2.5 billion in corporate support,  will help develop, identify and secure sponsorship opportunities, as well as work with Los Angeles 2028 and United States Olympic Committee (USOC) to sell their combined inventory.

Reports suggest that brands wanting to become “golden” partners of Los Angeles 2028 will have to pay at least $100 million (£78 million/€87 million) to join the programme. However, under the latest rules of the International Olympic Committee (IOC), LA 2028 will not be able to sign any sponsorship agreement before January 1, 2019.

The deal, financial terms of which haven’t been disclosed, will see Legends and USOC form a joint venture with the goal of selling $2.5 billion in domestic sponsorships for LA 2028. The agreement also includes sponsorship rights to Team USA for the 2022, 2024, 2026 and 2028 Games.

The multi-year deal does not includes event hospitality, another part of Legends’ business.

Shervin Mirhashemi, Legends President and CEO, said, “The Olympics is one of the world’s preeminent sports events, offering a unique value proposition and an important cultural influence for brands to connect with consumers through the experience of the Games.”

“This is a tremendous opportunity for our business to partner with an iconic property to engage with partners to create a strategic investment in the Los Angeles 2028 and Team USA platform.”

Casey Wasserman, Los Angeles 2028 President said, “The opportunity ahead is unprecedented. Never before in the Olympic Movement have we had a known 10-year time horizon to imagine stories and create platforms to engage and connect with people.”

Also Read: Los Angeles 2028 plans to target $2.5 billion in sponsorship revenues

“We are thrilled to partner with Legends to bring to life sponsorship opportunities for Los Angeles 2028 and Team USA. Their talent and experience in the Los Angeles market and across the US will be critical to amplifying our commercial success.”

Kathy Carter, Los Angeles 2028’s chief revenue officer said, “LA 2028 is the first Summer Games in the US in a generation. We have a unique story to tell of optimism, imagination and creativity that will connect with young people across the country and the team at Legends will help us do that.”

“With zero planned construction projects and an unprecedented ten-year lead-up to the Opening Ceremony, we are focused one hundred per cent on creating an unforgettable Games experience for athletes, fans and partners.”

Legends has deep experience in America’s second-largest media market, where it’s helping to sell suites, sponsorships and seat licenses for the stadium and entertainment district being built by Los Angeles Rams owner Stan Kroenke. That stadium will host part of the 2028 Olympics opening and closing ceremonies, plus other events.

Los Angeles was awarded the 2028 games last year, the same time Paris won the 2024 Olympics hosting rights. That 10-year lead time is an Olympics first, and the relatively small amount of new construction needed for facilities in Los Angeles has allowed the OC to make partnerships the priority.

Also Read: Joint sponsorship deals likely for Paris 2024, LA 2028


Leave a Comment