Intuit, the global financial technology firm, has been added to the top ranks of sponsors for the 2028 Olympic and Paralympic Games in Los Angeles, USA.
The San Francisco Bay-based company has signed up as a founding partner of the next Summer Olympics in the financial management software category, in a deal that also covers Team USA.
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This deal means it will retain naming rights to Intuit Dome, the stadium in Inglewood, California (a suburb of Los Angeles) that will be used during the Olympics for five-on-five men's and women's basketball.
Intuit is the naming partner of that venue, usually occupied by the LA Clippers, of basketball's NBA, through a long-term rights agreement signed in September 2021, reportedly worth in excess of $500 million
This naming rights retention comes after the LA28 committee announced its plans to sell naming rights for several venues to be used in the Olympics in mid-August.
This decision – which also allows for existing stadium naming rights sponsors, like Intuit, to keep those deals in place – is a major break from the International Olympic Committee's usual policy of keeping brand names away from Olympic event venues.
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By GlobalDataNaming rights deals with automotive giant Honda, which already holds naming rights for an arena in Anaheim due to host volleyball events, and Comcast, which will lend its name to a temporary venue that will host squash events, were outlined in August, and these have now been added to by the LA28-Intuit tie-up.
The offering will allow broadcasters to refer to the venues using their corporate sponsor names, giving brands a global platform.
Along with existing venues, up to 19 temporary venues are available for top-tier Olympic and Paralympic Games partners and LA28 partners to secure naming rights in the first instance. Outside brands will be given an opportunity if any spaces have not been filled.
Aside from the naming rights element of the overall Intuit-LA28 tie-up, the event's organizing body has said that the brand will be active in areas including championing small local businesses, helping with athlete financial support on Team USA, and providing financial education to students in the Los Angeles area.
Casey Wasserman, chair and president of LA28, has said: "As we prepare to welcome the world to Los Angeles for the 2028 Olympic and Paralympic Games, we’re proud to partner with Intuit – a company with deep roots in this city and a long-standing commitment to Angelenos [citizens of Los Angeles]."
In terms of LA28 commercial activity, early October saw the games' organizers announce internet heavyweight Google as a founding partner in an agreement that also covers Team USA and media giant NBCUniversal’s (NBCU) domestic coverage of the event.
In September, meanwhile, telecoms heavyweight T-Mobile acquired the telecoms sponsorship rights for the games.
Thomas Ranese, Intuit's chief marketing officer, added: "Just as athletes strive for gold, we empower consumers and businesses to outdo their financial goals with confidence. This partnership also allows us to further champion the vibrant business community in Los Angeles and help them thrive."
