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≡ JPMORGANCHASE ≡
Banks are one of the first sponsorship categories usually filled by major event organizing committees, not only for funding, but for lines of credit and payment flexibility.
The LA28 organizers did not have such a sponsor, from the early days in 2017 after it received the hosting rights for the 2028 Olympic and Paralympic Games, until now. On Tuesday, there were announcements from the International Olympic Committee, LA28 and the U.S. Olympic & Paralympic Committee, all sent within five minutes at 9:00 to 9:05 a.m. Eastern time.
Banking giant JPMorganChase signed two agreements, one of the International Olympic Committee and one with LA28 and the USOPC. Per the IOC statement:
● “JPMorganChase becomes the Worldwide Olympic Partner in the Asset and Wealth Management and Private Banking, Commercial and Investment Banking category.”
● “In the USA, the firm will be a Founding Partner of the LA28 Olympic Games in the Retail Banking category. Consistent with the IOC’s approach, revenues generated through the partnership will be redistributed to support sports organisations globally – including National Olympic Committees and their athletes, as well as Organising Committees for the Olympic and Youth Olympic Games.”
The joint LA28-USOPC statement added a couple of details:
● “JPMorganChase will support the LA28 Games by creating opportunities for athletes, empowering local businesses and investing in local communities. This includes plans to host financial health workshops at branches and other locations to help athletes plan for their financial futures beyond the LA28 Games.”
● “In addition to championing growth, opportunity and achievement, JPMorganChase will invest in technology and innovation through a new partnership with NBCUniversal to support the company’s multi-platform coverage of the LA28 Games. Together, JPMorganChase and NBCUniversal will highlight athlete journeys and the competitions of the LA28 Games in new and exciting ways.”
It’s an important sponsorship for both the IOC and the LA28 organizers.
For the IOC, it is their first banking partner, but it will be short-lived, as Commonwealth Bank has signed on to be the first major sponsor of the Brisbane 2032 organizing committee. The IOC announcement noted the “partnership includes the Los Angeles 2028 Olympic and Paralympic Games (LA28) and the French Alps 2030 Olympic and Paralympic Winter Games.”
It is also the 12th company to participate in the 2025-28 TOP program of worldwide sponsors, more than any TOP quadrennial except Tokyo 2020 (14) and Paris 2024 (15). And there are still two years left. Worries about the demise of TOP appear unfounded.
For LA28, having a major banking sponsor – Chase is identified as “Official Retail Bank” – will help not only with financial operations, but for services with Games clients such as the National Olympic Committees, International Federations and news media, as well as foreign guests.
It’s also the second Founding Partner announcement in 2026 for LA28, and its eighth Founding Partner in total, which surpasses the Paris 2024 Premium Partner total of seven. As the Founding Partner category entails commitments of more than $100 million, the LA28 commercial budget goal of $2.5 billion is at least at 84% now and perhaps at 88%.
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