The Los Angeles Olympic organizers plan to sell naming rights for venues, bringing in millions and challenging the IOC's policy against brand names on locations. LA28 chairman Casey Wasserman indicated the funds raised would exceed the existing $6.9 billion budget, illustrating the necessity of innovative funding strategies for these Games. He stated that names of venues contribute to public understanding and recognition. Up to 19 temporary venue naming rights will be available, prioritizing deals with TOP sponsors, with a guarantee that venues will not be renamed without an agreement.
Organizers of the Los Angeles Olympics will sell naming rights for several venues, which is expected to bring in millions and break the IOC's traditional policy of no brand names on venues.
LA28 chairman and CEO Casey Wasserman highlighted that revenue from naming rights exceeds the existing $6.9 billion budget, emphasizing the need for innovative funding in American-hosted Olympics.
Wasserman noted that understanding of venue names enhances public recognition, stating people know 'Crypto' as 'Crypto,' not just 'the gymnastics arena downtown'.
Rights for up to 19 temporary venues, primarily for IOC TOP sponsors, will be available, ensuring no venue will be renamed if a deal isn't reached.
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