Cedars-Sinai joins a growing list of corporate partners, including Dick’s, Cisco, and Autodesk, to help fund the $7 billion event.
LA28, the organizers of the 2028 Los Angeles Olympics and Paralympics, have signed new corporate sponsors, including Cedars-Sinai as the official medical provider for the Games. This partnership follows recent deals with Dick’s Sporting Goods, Cisco, and Autodesk further strengthening the list of LA28 sponsorships. These agreements play a crucial role in covering the $7 billion cost of the event.
Driving Sponsorship Momentum
LA28 aims to build off of the excitement from the 2024 Paris Olympics. Though it has secured several key sponsors, the committee has not yet shared financial details. However, the goal remains clear: LA28 needs to reach its $2.5 billion sponsorship target to balance the budget.
Aiming for Financial Success
The organizers plan to replicate the financial success of the 1984 Los Angeles Olympics, which ended with a surplus. To do this, LA28 will rely on private revenue sources, including sponsorships, ticket sales, and merchandise. Additionally, the federal government will contribute up to $2 billion in services since the Games are classified as a National Special Security Event.
Closing the Sponsorship Gap
In 2023, LA28 reported a $1 billion shortfall in sponsorships. Despite this, sports economists remain optimistic, explaining that most Olympic sponsorships are signed in the four years leading up to the Games.
New Partnerships Strengthen LA28
The Cedars-Sinai partnership enhances the healthcare provider’s involvement in the U.S. Olympic & Paralympic Committee’s medical network. LA28 also added Cisco as the official network equipment partner and Autodesk, which will help design and retrofit Southern California venues.
This article contains information originally published by the Los Angeles Times.
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