Three years before the Olympics, LA28 organizers provided some previews of the game to international Olympic committee officials that even the best Hollywood writers couldn’t plan.
To begin the visit to check the LA28’s program progress, the International Olympic Committee Coordination Committee participated in a game at Dodger Stadium and watched Freddie Freeman beat the doubles in the 10th inning to beat the New York Mets at the same stadium, which will host Olympic baseball in three years.
The electric celebration, bringing results to the LA28 on track through a senior venue program, and a growing corporate sponsored portfolio, until the 2028 Olympics opens at the double campaign ceremony at Sofi Stadium and Corsiseum.
“We are really confident in the progress we have made,” LA28 Chairman Casey Wasserman said after a three-day visit to the Coordination Committee. “We focus on the way we have been delivering the greatest games in the greatest way, which is the most responsible way, which brings benefits to every member of our Olympic sport and community.”
With the city of Los Angeles facing deep financial problems and transportation updates lag behind plans, LA28 is under pressure to provide a fully privately funded game. John Slusher, CEO of LA28’s business, said in an interview with The Times that the private group said it was still a challenge because the fundraising for Los Angeles games was “fantastic”.
There are six new partnerships this year (matching the total transactions for the full year of last year), and LA28’s contract revenue is worth more than 60% of its $2.5 billion sponsorship target. Slusher and Wasserman said Slusher expects seven to nine deals this year, and the organization’s pace is able to reach $2 billion in corporate sponsorship by the end of the year.
“I’ll tell you where I’m sitting today, and we’re very confident that we can reach or exceed the $2.5 billion goal, and I think people will designate it in November to a stretch goal,” Slusher said.
This is the first time that LA28 has established a level partnership since Salesforce was signed in 2021, which is an affirmation of the business. The cloud-based software company exited the deal in 2024. Suddenly, this is the progress of the LA28 Fundraing Fundraing Fundraing Fundraing Fundraing Fundraing for, conquering the responsibility of private taxes to the committee’s campaign liability, whether the committee can perform the tax on private taxes, thereby allowing private conquer and compensate anyone for taxes and fulfilling a tax on a tax.
But the organizers still haven’t avoided it.
Such twists and turns mark the long-term Olympic journey of LA28. Los Angeles Games was issued in a rare Twin Cities announcement in 2017, which also held its 2024 match in Paris. LA28 preached patience during the unprecedented 11-year program, rather than a typical seven-year period.
“More time is always better than less time,” Wasserman said in an interview with The Times. “The only negation of sales is that there is a greater distance between deals, so everyone likes, ‘You’re not doing well’. Our feelings are never the way we feel. When we get to where we perform in sponsorship revenue, my point is to judge us.”
The judgment time is getting closer. The Olympics will open on July 14, 2028.
Although the City has agreed to assume the first $270 million in debt if LA28 exceeds the business, Wasserman said organizers do not intend to approach the financial background.
According to the latest financial report submitted to the city in March, LA28 plans to pay the proposed $7.1 billion fee, with about one-third of its estimated revenue coming from domestic sponsorship and another one-third from ticketing and hospitality.
“The talent of this year’s new domestic partnership emphasizes the power of the Olympics to unite people, create long-term value and reflect the growing participation of the nation with the LA28 vision,” said Nicole Hoevertsz, chairman of the International Olympic Committee Coordination Committee.
Artist’s boating venue rendering at the 2028 Los Angeles Olympics held in Long Beach. Long Beach is one of several cities that host events during the Olympics.
(LA28)
To start sponsorship momentum in 2025, LA28 announced a formal partnership with AECOM in March as the engineering company will support the Olympic venue infrastructure.
Mortgage company Pennymac, mattress brand Saatva, cloud-based data storage company Snowflake and Archer signed as official backers, a partnership below AECOM.
Slusher said that despite no financial details specified, he estimated LA28’s sponsorship revenue this year was three to four times that of last year.
“Our job is to maximize income,” Wasserman said. “I am very confident in our ability to earn more in Olympic history. I have no doubts.”
Although smaller portions of the budget are also more than sponsorships, merchandise and licensing are also increasing momentum as companies are eager to have the opportunity to issue official policies, t-shirts, programs or plush toys, Slusher said.
LA28’s financial report notes that it has signed commercial or retail agreements with several companies including Cisco, Dick’s sporting goods and skimming. According to LA28’s latest annual report, licensing and sales are expected to bring in $344 million.
The next major work will be ticketing, with revenue from hospitality generating $2.5 billion, an increase of $569 million from June 2024 estimates. LA28 is expected to start registration for lottery in early 2026.
Although LA28 and city officials praised the Olympics to welcome the world to Los Angeles, concerns about international travel have continued under the current administration. Delays in visa processing prompted Congress to take action ahead of next year’s World Cup. President Trump signed a travel ban on Wednesday that violated the entry of citizens from 12 countries into the United States. The Trump administration deployed the National Guard to Los Angeles on Sunday in protests against immigration attacks.
The latest Trump order from visitors from 12 countries includes exemptions to certain athletes, including athletes traveling to the United States to compete in major sports events, and Wasserman is not worried about visa issues that affect the Olympics.
“It’s obvious that the federal government has learned that this is the environment they are going to adapt and provide,” Wasserman said of the recent travel ban. “So we are confident that this will only continue. So far, this is the case, and it is certainly the case in the game.”
Since Wasserman expects most ticket sales to be domestic, he said he doesn’t care about the potential decline in revenue if international fans don’t participate in visas or security issues.
But Paris sold a record 11.1 million tickets for the Olympics and Paralympics in 2024 About 38% of Olympic tickets sold According to the International Olympic Committee, for fans living outside France. Successful activities exceeded its ticketing and hotel revenue target of $397 million, Bringed about $30 million in surplus.
The success of continuing the Olympic sport has been the mind in LA28’s mind, while bringing the game back to the first time in four decades to return to Los Angeles. The 1984 Olympic Games also received private funding and acclaim, a huge success in their $225 million surplus in youth sports. Opportunities to use existing sites in 2028 greatly reduce potential costs by avoiding new permanent buildings.
“I totally hope that LA28 will succeed in its revenue targets, and I totally hope that the 2028 Olympics and Paralympics will be financial success,” Paul Krekorian, executive director of the Los Angeles Office of Major Events, said in a statement to the Times. “Even in the face of adversity, Los Angeles hosted the Olympics twice before, and both competitions are a huge success for our city and its residents.”
Still, city leaders are under tremendous pressure to ensure that the millions of people expected to visit Los Angeles during the Olympics can be accessed safely. Mayor Karen Bass recently unveiled a citywide initiative called “Shine La”, which encourages volunteers to beautify the city by cleaning and planting trees ahead of next year’s World Cup and Olympics.
With city and federal funding, Los Angeles plans to overhaul its public transportation system, including a long-awaited subway station that opened Friday at Los Angeles International Airport. However, other updates (such as electrified bus networks, extended rail lines and lax people porters) are also behind. Although the city’s transportation plan is not outside the LA28’s game and budget, Wasserman said he believes Los Angeles will be able to repeat its transit success from the 1984 Olympics.
But the Olympics are bigger than ever. Record 11,198 Olympic athletes Will participate in the competition in 2028. The Paralympic Games will be the first in the city. Especially as Los Angeles is still recovering from devastating wildfires and a nearly $1 billion deficit, the threat of taxpayers to absorb any game expenses is imminent.
With the financial momentum behind the 2028 Olympics, Wasserman hopes to relax his worried mind.
“The last thing taxpayers should worry about is us,” Wasserman said. “We know how to do that. We prove that every day is proven throughout the process and we give it to the city in every way, not to take it away from it.”
