L.A. Olympics To Award Venue Naming Rights For First Time

Forbes

2 days ago

The Honda Center is commonly known as the home of the Anaheim Ducks. For the LA28 Olympics, it won't lose the Honda moniker, part of a first for the Olympics where LA28 is selling venue naming rights for the first time in the history of the Olympic games.
Along with the Honda Center, LA28 announced that the temporary squash venue at Universal Studios will be known as the Comcast Squash Center.
The change comes as Casey Wasserman, LA28 chair and president, says the mission to be a fully privately funded and no-new-build Olympics meant working with the International Olympic Committee to create a fresh plan for venue naming rights. 'From the moment we submitted our bid, LA28 committed to reimagining what's possible for the games,' Wasserman says. 'Today's historic announcement delivers on that promise.'
While Honda and Comcast are the two companies announced first, Wasserman says there are more to come, generating 'critical revenue for LA28' while introducing a new commercial model to the Olympics.
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Under the new program, qualifying LA28 partners will have the opportunity to keep existing venue naming rights during the Olympics, as well as secure additional marketing assets. That means venues such as SoFi Stadium in Inglewood, host of the opening and closing ceremonies and swimming (yes, expect a temporary Olympic pool in what will become the largest Olympic swimming venue in history) may remain SoFi Stadium if the company buys in, but won't be given another sponsored name if not.
For the up to 19 temporary venues, the naming rights become available to worldwide Olympic partners and LA28 partners.
Outside of naming rights partners, standard clean venue policies still apply, meaning such sites as Rose Bowl Stadium, Dodger Stadium and the LA Memorial Coliseum will retain their names.
Honda was the first partner signed on to retain its name during the Olympics, with the Honda Center hosting Olympic volleyball. 'As a founding partner of LA28, Honda is immensely proud that a world-class sports and entertainment venue like Honda Center will step onto the international stage to power Olympic dreams at the highest level,' says Ed Beadle, vice president of digital services and marketing for American Honda Motor Co. 'We have partnered with Honda Center for nearly two decades and we're excited that it will help showcase Southern California during the Olympic and Paralympic games.'
The Comcast Squash Cetner at Universal Studios is the first temporary venue to garner a naming rights partner. It will turn Courthouse Square, an iconic working studio lot, into the home of Squash during the Olympics.