Passing “grades for an advanced venue plan and a growing corporate sponsorship portfolio” is keeping LA28 “on track” to meet its goal of privately funding the Games, according to Nguyen & Smith of the L.A. TIMES. U.S. Olympic and Paralympic Properties CEO John Slusher said that the private group in charge of LA28’s commercial operation “remains up to the challenge” -- with fundraising “going gangbusters.” With six new partnerships this year -- “matching the total number of deals in all of last year” -- LA28 has “contract revenue worth more than 60%” of its total $2.5B sponsorship goal. Slusher expects an “estimated seven to nine more deals coming this year,” and the group is “on pace to reach its goal” of $2B in corporate sponsorship dollars by the end of the year. A major partnership with Honda signaled a “boon for business” as it was the first founding-level partnership since Salesforce signed on in 2021 (the company backed out of its deal in 2024). Although the city has agreed to cover the first $270M in debt incurred from the Games if LA28 goes overbudget, LA28 Chair Casey Wasserman said organizers “don’t intend to come close to the financial backstop.” While not specifying the financial details, Slusher said he “estimated LA28 would make three or four times as much sponsorship revenue this year compared with all of last year.” While a “smaller portion of the budget than sponsorship, merchandise and licensing is gaining momentum as well.” The next major piece will be ticketing, which, with hospitality, is “slated to generate” $2.5B in revenue -- a $569M “increase from a June 2024 estimate.” LA28 expects to begin registration for the ticket lottery in early 2026 (L.A. TIMES, 6/9).
LA28 officials remain confident in ability to deliver full private funding for Games
