Latest news with #LAGames
The Star
11 hours ago
- Automotive
- The Star
Olympics-Honda partners with LA28 as Olympic sponsorship deals shift into gear
American Honda President & CEO Kazuhiro Takizawa announces Honda will become a founding partner and official automotive partner of Los Angeles's 2028 Olympic and Paralympic Games at Honda's U.S. headquarters in Torrance, California, U.S., June 2, 2025. REUTERS/Mike Blake LOS ANGELES (Reuters) -Honda was named as the automotive partner of the 2028 Los Angeles Olympics and Team USA on Monday in the latest domestic sponsorship deal for the sporting extravaganza. The Japanese automaker, which established its first U.S. operations in Los Angeles in June 1959, will provide a vehicle fleet for the LA Games and also serve as the partner for Team USA at the 2026 Winter Games in Milano Cortina. LA28 chairman Casey Wasserman said Honda was a natural fit given the company's deep roots in the Los Angeles region. "They will show up to support athletes in their journeys to train for and compete in the Olympics," Wasserman said. "And they will use us as an opportunity to showcase the best of their vehicles and their technology." With the deal, the LA Games has now eclipsed $1.5 billion in sponsorship revenue amid a flurry of dealmaking in the first half of the year. Officials at LA28, the private, non-profit company organising the Games, told Reuters they were confident they will reach or exceed their overall target of $2.5 billion in sponsorship revenue by the time the Olympic flame reaches Southern California. "Our hope is that we would get between $1.8 billion and $2 billion this year and I'm optimistic that we'll hit those numbers," said John Slusher, CEO of U.S. Olympic and Paralympic Properties. "Anything can happen, but sitting here today, I feel very optimistic that we'll reach or exceed our $2.5 billion sponsorship number by the time we hit the Games." The Paris Games last year had domestic sponsorship revenues of over $1.2 billion while the Tokyo 2020 Games, hosted in 2021 due to the pandemic, broke all records for domestic sponsorship deals with more than $3 billion of revenues. PARIS TAILWINDS LA28 has announced half a dozen deals so far this year following the Paris Games, which were widely viewed as a success by athletes, fans, broadcasters and sponsors. Last month, LA28 named Archer Aviation as its air-taxi provider and appointed data cloud analytics company Snowflake as its official data collaboration provider. Slusher said as many as nine more sponsorship deals could be announced before year's end. "It was going pretty slow last year but coming out of the Paris Games and starting in November and December, things really started cranking at an incredibly high rate," he said. "NBC did such an amazing job of promoting and showing off the Paris Games here in the U.S. and Team USA did such a great job performing at a high level. It gave us a huge tailwind." LA28's roughly $7 billion budget will be paid for with money from the International Olympic Committee and IOC sponsors as well as domestic partnerships like the one with Honda, ticket sales, licensing, merchandise sales and other revenues. That money will cover a wide variety of expenses related to setting up and staging the Games including renting venues, Games operations and the opening and closing ceremonies. TAXPAYER CONCERNS The 1984 Los Angeles Olympics turned a profit and became a model for future Games but other host cities, including Sydney in 2000, Athens in 2004 and Rio de Janeiro in 2016, blew well past their budgets. The city of Los Angeles is currently grappling with a potential budget shortfall for this fiscal year and beginning the difficult and costly process of rebuilding from January's devastating wildfires. LA and California taxpayers could be on the hook for a portion of the Games budget if there are large cost overruns but Slusher, formerly a long-time Nike executive, said he was focused on making sure that does not happen. "It was stressed before I started the job that we want to have an amazing Games, turn a profit, and obviously under no circumstances are we going to be in a situation where the taxpayers foot the bill," he said. "That was made clear to me before I signed on and every day I wake up making sure I'm focused on that. That being said, I feel very optimistic about hitting our goals if not exceeding them from a revenue standpoint. "We'll fulfill Casey's commitment of having an amazing games and doing so in a way that leaves money for the city of Los Angeles as opposed to leaving a burden on the taxpayers." The Games will take place from July 14-30, 2028, and the Paralympic Games from August 15-27, 2028. (Reporting by Rory Carroll in Los Angeles; Editing by Ken Ferris)
USA Today
12 hours ago
- Automotive
- USA Today
Honda named official automotive partner for LA28 Olympics and Team USA
Honda named official automotive partner for LA28 Olympics and Team USA Show Caption Hide Caption Olympic flag returns to Los Angeles ahead of LA28 Games Olympic flag arrives in Los Angeles, host city for 2028 Games Honda 7267.T was named as the automotive partner of the 2028 Los Angeles Olympics and Team USA on Monday in the latest domestic sponsorship deal for the sporting extravaganza. The Japanese automaker, which established its first U.S. operations in Los Angeles in June 1959, will provide a vehicle fleet for the LA Games and also serve as the partner for Team USA at the 2026 Winter Games in Milano Cortina. LA28 chairman Casey Wasserman said Honda was a natural fit given the company's deep roots in the Los Angeles region. "They will show up to support athletes in their journeys to train for and compete in the Olympics," Wasserman said. "And they will use us as an opportunity to showcase the best of their vehicles and their technology." With the deal, the LA Games has now eclipsed $1.5 billion in sponsorship revenue amid a flurry of dealmaking in the first half of the year. Officials at LA28, the private, non-profit company organizing the Games, told Reuters they were confident they will reach or exceed their overall target of $2.5 billion in sponsorship revenue by the time the Olympic flame reaches Southern California. In case you missed it: Looking for a car that's truly 'made in America'? Good luck finding one. "Our hope is that we would get between $1.8 billion and $2 billion this year and I'm optimistic that we'll hit those numbers," said John Slusher, CEO of U.S. Olympic and Paralympic Properties. "Anything can happen, but sitting here today, I feel very optimistic that we'll reach or exceed our $2.5 billion sponsorship number by the time we hit the Games." The Paris Games last year had domestic sponsorship revenues of over $1.2 billion while the Tokyo 2020 Games, hosted in 2021 due to the pandemic, broke all records for domestic sponsorship deals with more than $3 billion of revenues. Paris tailwinds LA28 has announced half a dozen deals so far this year following the Paris Games, which were widely viewed as a success by athletes, fans, broadcasters and sponsors. Last month, LA28 named Archer Aviation ACHR.N as its air-taxi provider and appointed data cloud analytics company Snowflake SNOW.N as its official data collaboration provider. Slusher said as many as nine more sponsorship deals could be announced before year's end. "It was going pretty slow last year but coming out of the Paris Games and starting in November and December, things really started cranking at an incredibly high rate," he said. "NBC did such an amazing job of promoting and showing off the Paris Games here in the U.S. and Team USA did such a great job performing at a high level. It gave us a huge tailwind." LA28's roughly $7 billion budget will be paid for with money from the International Olympic Committee and IOC sponsors as well as domestic partnerships like the one with Honda, ticket sales, licensing, merchandise sales and other revenues. That money will cover a wide variety of expenses related to setting up and staging the Games including renting venues, Games operations and the opening and closing ceremonies. Taxpayer concerns The 1984 Los Angeles Olympics turned a profit and became a model for future Games but other host cities, including Sydney in 2000, Athens in 2004 and Rio de Janeiro in 2016, blew well past their budgets. The city of Los Angeles is currently grappling with a potential budget shortfall for this fiscal year and beginning the difficult and costly process of rebuilding from January's devastating wildfires. LA and California taxpayers could be on the hook for a portion of the Games budget if there are large cost overruns but Slusher, formerly a long-time Nike executive, said he was focused on making sure that does not happen. "It was stressed before I started the job that we want to have an amazing Games, turn a profit, and obviously under no circumstances are we going to be in a situation where the taxpayers foot the bill," he said. "That was made clear to me before I signed on and every day I wake up making sure I'm focused on that. That being said, I feel very optimistic about hitting our goals if not exceeding them from a revenue standpoint. "We'll fulfill Casey's commitment of having an amazing games and doing so in a way that leaves money for the city of Los Angeles as opposed to leaving a burden on the taxpayers." The Games will take place from July 14-30, 2028, and the Paralympic Games from August 15-27, 2028. Reporting by Rory Carroll in Los Angeles; Editing by Ken Ferris
Straits Times
3 days ago
- Sport
- Straits Times
Mahomes says he will not participate in LA28 flag football
FILE PHOTO: Feb 9, 2025; New Orleans, LA, USA; Kansas City Chiefs quarterback Patrick Mahomes (15) walks off the field at the end of the first half of Super Bowl LIX at Caesars Superdome. Mandatory Credit: Geoff Burke-Imagn Images/File photo REUTERS Mahomes says he will not participate in LA28 flag football Kansas City Chiefs quarterback Patrick Mahomes has ruled out playing flag football at the Los Angeles 2028 Olympics, saying he will leave representing the United States in the sport's Olympic debut to "the younger guys." National Football League teams approved a resolution last week allowing their players to compete in flag football at the LA Games. Mahomes, twice NFL Most Valuable Player and three-time Super Bowl MVP, will be 32 when the 2028 Games begin. Speaking during the off-season organized team activities this week, Mahomes told reporters, "I'll probably leave that to the younger guys. I'll be a little older by the time that comes around." "It's awesome. Honestly, just to be able to showcase the NFL to the whole world through flag football." The NFL has ramped up its promotion of flag football, a non-contact format of American football, since the International Olympic Committee approved it for the LA28 program in 2023, with an eye toward drawing more women into an arena long dominated by men. The league itself had long been on board with players competing in the Games, while multiple athletes, including Mahomes, said two years ago they wanted to play the sport at the LA Games. Six men's teams and six women's teams are set to compete in flag football at the LA Games, with 10 players per team competing in a five-on-five format. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
3 days ago
- Sport
- The Star
Olympics-Mahomes says he will not participate in LA28 flag football
FILE PHOTO: Feb 9, 2025; New Orleans, LA, USA; Kansas City Chiefs quarterback Patrick Mahomes (15) walks off the field at the end of the first half of Super Bowl LIX at Caesars Superdome. Mandatory Credit: Geoff Burke-Imagn Images/File photo (Reuters) - Kansas City Chiefs quarterback Patrick Mahomes has ruled out playing flag football at the Los Angeles 2028 Olympics, saying he will leave representing the United States in the sport's Olympic debut to "the younger guys." National Football League teams approved a resolution last week allowing their players to compete in flag football at the LA Games. Mahomes, twice NFL Most Valuable Player and three-time Super Bowl MVP, will be 32 when the 2028 Games begin. Speaking during the off-season organized team activities this week, Mahomes told reporters, "I'll probably leave that to the younger guys. I'll be a little older by the time that comes around." "It's awesome. Honestly, just to be able to showcase the NFL to the whole world through flag football." The NFL has ramped up its promotion of flag football, a non-contact format of American football, since the International Olympic Committee approved it for the LA28 program in 2023, with an eye toward drawing more women into an arena long dominated by men. The league itself had long been on board with players competing in the Games, while multiple athletes, including Mahomes, said two years ago they wanted to play the sport at the LA Games. Six men's teams and six women's teams are set to compete in flag football at the LA Games, with 10 players per team competing in a five-on-five format. (Reporting by Shifa Jahan in Bengaluru; Editing by William Mallard)
New York Post
4 days ago
- Politics
- New York Post
Trump v. California on women's sports, a risky mortgage retread, and other commentary
Olympics beat: Trump v. Cali on Women's Sports The 2028 Los Angeles Olympics will become 'a slow-motion car crash' over the issue of transgender athletes in women's sports, Jennifer Sey warns at The Spectator, with President Trump facing off against California and the US Olympic Committee. 'For the first time in history,' the LA Games will see 'more women's events than men's' — but if biological men can fight for those medals, 'it's women who will lose. And some will get hurt.' Gavin Newsom doesn't toe the line on his executive order 'aimed at protecting women's sports' — yet 'taxpayer dollars earmarked for Los Angeles 2028' are already flowing. 'Compelled participation against biological men isn't inclusion,' but 'institutionalized abuse.' Eye on Wall St.: A Risky Mortgage Retread 'The American public doesn't need a sequel to 'The Big Short,' ' Veronique de Rugy snarks at Reason. The 2008 financial crisis traced in that film, was sparked by Washington, 'specifically through Fannie Mae and Freddie Mac,' government-sponsored lenders that (under pressure from Congress) backed 'risky home loans by effectively making taxpayers cosign the mortgages.' Those 'significantly loosened lending standards' wound up 'inflating the housing bubble.' Now, President Trump is floating plans to 're-privatize' Fannie and Freddie without taking taxpayers off the hook for bad loans. Aargh! 'Financial entities — particularly those shielded by government guarantees — inevitably revert to risky behavior when market pressures and profit incentives align.' The only safe way to privatize Fannie and Freddie is 'without any implicit government guarantees.' From the right: A Win Over Climate Hysteria 'The right to express an opinion contrary to the 'settled science' was vindicated last week in the District of Columbia Superior Court,' cheers The Washington Times' editorial board. Penn State University researcher Michael Mann's 'hockey stick' chart 'stoked climate panic around the world, then he sued critics who implied his 'findings were erroneous.' A DC jury last year awarded Mann '$1 million in punitive damages,' but that 'victory was based in part on a chart containing numbers that couldn't be replicated' — so it seems he 'will now end up paying the individuals he sued a total of around $1.4 million.' Conservative: Mamdani's Hateful Lies Progressive mayoral candidate Zohran Mamdani, already 'a post-Oct. 7 vessel for the de-stigmatized tidal wave of anti-Semitism in the West,' this week 'crossed a line that was staggeringly militant even in our current age of say-anything shock-jock politics,' thunders Commentary's Seth Mandel. In a campaign stop at a mosque, he denounced 'Israel's pager operation, likely the most carefully targeted such operation in the history of warfare, in which the pagers only of Hezbollah exploded, maiming thousands of terrorists after the group had waged months of war on Israeli civilians.' He claimed it killed 'scores of Lebanese civilians,' marvels Mandel, when 'not even Lebanese authorities claimed as much. The only way that number is accurate is if Mamdani considers Hezbollah terrorists to be civilians, which is possible, because he does not mention Hezbollah at all in his remarks.' Civil-rights watch: Whistleblowers vs. DEI The Justice Department's 'Civil Rights Fraud Initiative, which will use the False Claims Act, encourages whistleblowers to come forward with evidence of illegal' discrimination, applauding Edward Blum & Adam Mortara at The Wall Street Journal. 'Universities, corporations, and nonprofit organizations have established 'diversity, equity and inclusion' policies that violate the plain language of civil-rights laws,' yet 'receive billions in federal funding by falsely certifying that they are in compliance with those laws.' For instance, 'a university can't accept taxpayer dollars while condoning antisemitism on campus or treating applicants differently based on race.' The Justice initiative gives whistleblowers 'an incentive to come forward and expose unlawful discrimination' by letting them collect a share of potential multimillion-dollar damages. — Compiled by The Post Editorial Board
