"Intuit is the first new founding partner of the 2028 Olympics and Paralympics to take advantage of venue naming opportunities available for the L.A. Games as the financial technology company and LA28 announced a sponsorship deal Friday. Per the partnership, Intuit will retain its name on Intuit Dome for Olympic basketball competitions and work with LA28 to assist small businesses in the city, provide select U.S. athletes with free tax preparation and expand financial education for students in the L.A. community."
"Previously, the International Olympic Committee required "clean venues," which necessitated scrubbing all mention of corporate sponsorship. It has required LA28 organizers to use generic names such as Exposition Park Stadium for BMO Stadium or 2028 Stadium for SoFi Stadium. But after the IOC and LA28 announced an agreement in August that opened potential venue naming rights, Honda Center (volleyball), Peacock Theater (weightlifting and boxing) and the Comcast Squash Center at Universal Studios became the first venues to have corporate sponsorship."
IOC officials reversed the 'clean venues' mandate, allowing venue naming rights for the Los Angeles 2028 Games and opening a new revenue stream. Intuit became the first new founding partner to use a venue name, retaining the Intuit Dome for Olympic basketball while committing to assist small businesses, offer select U.S. athletes free tax preparation and expand financial education for students. LA28 had previously used generic venue names because of the IOC rule; Honda Center, Peacock Theater and the Comcast Squash Center became early corporate-sponsored venues after the agreement. LA28 leaders report progress in sponsorship sales and confidence in covering the $7.1 billion estimated cost. The City of Los Angeles and possibly California could be liable if LA28 fails to cover shortfalls.
Read at Los Angeles Times
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