Nike to become first major sponsor for Los Angeles 2028 Olympics
today Mar 7, 2019
Nike is reportedly closing in on a deal to become a major sponsor of the Los Angeles 2028 Olympic Games.
According to a Sports Business Journal (SBJ) report, the nearly finalized deal also includes an agreement to make Nike the official sponsor of Team USA throughout that year, with an option for the athleticwear company to extend its rights through 2032.
While details are still being worked out, the deal is further set to make Nike an outfitter of volunteer uniforms and, on a particularly lucrative note, give the company access to manufacturing, branding and promotional rights for the sporting event.
The Los Angeles games will mark the first summer Olympic Games to take place in the United States in 32 years, and some experts project that Nike is likely to pay as much as $200 million to capitalize on the rare event's marketing possibilities.
The long-term sponsorship deal between the sportswear company and the United States Olympic and Paralympic Properties, the joint sales venture of Los Angeles and the United States Olympic Committee (USOC), would be the first step towards the 2028 games' $2.5 billion domestic sponsorship target, according to SBJ.
If all goes according to plan, the Los Angeles games agreement will be the latest on the list of Nike's elite-level sporting partnerships, including deals with Major League Baseball and the National Football League until 2030 and USA Track & Field until 2040.
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