Nicole Hoevertsz, IOC Vice President and LA28 Coordination Commission Chair, speaks next to Casey Wasserman, LA28 Chairperson and President, and Reynold Hoover, LA28 Chief Executive Officer, during a press conference following the conclusion of a three-day visit by the International Olympic Committee (IOC) Coordination Commission for the Olympic and Paralympic Games Los Angeles 2028, to select Games venues, track the progress of the LA28 Games and share insights on the progress and preparations in Los Angeles, California, U.S. June 5, 2025. REUTERS/Mike Blake
LOS ANGELES, Dec 4 (Reuters) - The Los Angeles 2028 Olympic and Paralympic Games organizing committee said it had surpassed $2 billion in domestic sponsorship revenue, putting it on track to be among the most commercially successful Games in the history of the Olympic movement.
Financial software company Intuit last month became LA28's sixth founding partner, joining Google, Honda, Starbucks, Delta and Comcast in the top-paying tier.
"Surpassing $2 billion in sponsorship more than two-and-a-half years before the LA28 Games arrive is confirmation of our strong position and progress toward delivering a fiscally responsible yet epic event," LA28 chairperson and president Casey Wasserman said in a statement.
"Alongside organizing the Games, we've built a world-class commercial organization that is delivering the innovation and results we've been working toward since day one."
The LA28 budget for the Games is currently about $6.9 billion and is expected to rely heavily on private funding from sponsorship, ticket sales, hospitality and licensing, as well as contributions from the International Olympic Committee.
LA28 also plans to make use of the city's many existing venues rather than build new permanent infrastructure.
Organizers have repeatedly stressed their aim to stage the event without burdening local taxpayers. The city of Los Angeles has agreed to cover the first $270 million in cost overruns, but LA28 officials have predicted a budget surplus.
"As we close out 2025, we're reflecting on all the milestones this organization has accomplished nearly three years out from the LA28 Games," said LA28 CEO Reynold Hoover.
"From record commercial growth to launching volunteer and community ticketing programs earlier than ever, our North Star continues to be delivering a fiscally responsible Games with meaningful impact for LA and beyond," he said.
"We're working day in and day out to make the Games more accessible than ever to the millions of people who want to get involved in a meaningful way."
The Los Angeles Games will mark the city's third time hosting the Olympics, after 1932 and 1984, and its first Paralympics.
(Reporting by Rory Carroll in Los Angeles; editing by Clare Fallon)
