Honda latest to sign as LA Olympics sponsor deals gain pace

Yahoo

2 days ago

STORY: The race to sign sponsorship deals for the 2028 Los Angeles Olympics is heating up.
On Monday, Japanese auto giant Honda was the latest to say it had signed on the dotted line.
It will be the official automotive partner for the Games and Team USA, providing a fleet of vehicles for athletes.
Honda will also partner with the U.S. team at the 2026 Winter Olympics in Italy.
LA28 President Casey Wasserman hailed the deal at a news conference:
'Honda's LA roots make this partnership even more meaningful, as we work to deliver a Games that will make Angelenos proud.'
With the deal, the LA Games has now passed $1.5 billion in total sponsorship agreements.
That follows a flurry of deal making in the first half of this year.
Officials at LA28 - the private, non-profit company organizing the Games - told Reuters they were confident of hitting a target of $2.5 billion.
That would more than double the deals done for the Paris Olympics last year.
But it wouldn't beat the $3 billion record set by Tokyo 2020.
LA28 has announced a half dozen deals so far this year.
That includes making Archer Aviation its official air-taxi provider and naming analytics firm Snowflake as its data partner.
LA28 has a roughly $7 billion budget for the event.
Besides domestic sponsorship deals like the one with Honda, it also gets money from the International Olympic Committee and its sponsors.
Other revenue sources include ticket and merchandise sales.
The 1984 LA Olympics turned a profit and became a model for future Games.
However, many subsequent host cities - including Sydney, Athens and Rio de Janeiro - blew way past their budgets.