Intuit is the first new founding partner 2028 Olympic Games And Paralympic Games take advantage of the object naming capabilities available to Los Angeles Games The fintech company and LA28 announced a sponsorship agreement on Friday.
Under the terms of the partnership, Intuit will retain its name on Intuit Dome for Olympic basketball competition and work with LA28 to help small businesses in the city, provide free tax preparation to select American athletes, and expand financial education for students in the Los Angeles community.
Previously, the International Olympic Committee required “clean venues,” which required that all references to corporate sponsorship be removed. Organizers of LA28 requested the use of generic names such as “Exposition Park Stadium” to refer to BMO Stadium or Stadium 2028 for Sophie Stadium.
But after the IOC and LA28 announced an agreement in August opening up potential venue naming rights, the Honda Center (volleyball), Peacock Theater (weightlifting and boxing) and the Comcast Squash Center at Universal Studios became the first venues to receive corporate sponsorship. Honda and Comcast previously announced a deal to become founding partners of LA28.
John Slusher, chief executive of LA28's commercial division, believed that Intuit, which has partnered with the Clippers for 23 years, could be a potential Olympic partner no matter what. The pace of negotiations accelerated after naming rights became available, he said. The Intuit Dome will host men's and women's basketball, which is one of the most popular Olympic events, and basketball is one of the few sports that competes throughout the entire Games, giving the arena a prime spot in the Olympic spotlight.
“It wasn't just any building. It was an incredibly important and modern building,” Slusher told The Times. “And it obviously ties in so well with their investment in Los Angeles and what they're doing now with the dome.”
Intuit Dome opened in 2024 for Clippers. The Clippers owner's project, praised for its innovative use of technology, massive halo panel and large fan section dubbed “The Wall”, Steve Ballmer has already secured the rights to host the NBA All-Star Game in February.
“Intuit is incredibly proud to be a founding partner of the LA28 Games,” Intuit Chief Marketing Officer Thomas Ranese said in a statement. “Our commitment to delivering prosperity is perfectly aligned with the spirit of the movement: celebrating determination, optimism and belief in what is possible. Just as athletes strive for gold, we empower consumers and businesses to exceed their financial goals with confidence.”
According to Slusher, discussions have begun with partners regarding naming rights for the temporary venues, starting with companies already participating in The Olympic Partner (TOP) program. While no deals have yet been closed for temporary sites, initial feedback from partners “looks incredibly encouraging,” Slusher said.
Naming rights to the site have opened up a previously untapped source of revenue for the 2028 Games, which is expected to be worth about $7.1 billion. Organizers hope to cover at least $2.5 billion through domestic sponsorships. Financial terms of Friday's contract were not disclosed, but founding-level partnerships reportedly start at approximately $200 million. According to Sports Business Journal.
The organizing committee had high marketing expectations for 2025. Hoping to capitalize on the success of the 2024 Paris Games, the group was aiming to raise between $800 billion and $1 billion in deals this year and reach a total of $2 billion by early 2026. With the announcement of three founding-level partnerships between Intuit, Honda and Starbucks this year, Slusher says he believes the team is on track to achieve its goals.
“We are very confident that what we said then will be true,” Slusher said. “So we're very pleased with the progress. I think we saw incredible momentum in the first quarter, and we're seeing that same momentum now… We're very excited about that and even more in the future.”
Every last deal matters ahead of the opening ceremony on July 14, 2028. Any debt incurred by LA28 in connection with the Games will pass to Los Angeles. The city will have to pay the first $270 million of the overspending, with California getting the next $270 million and the rest going back to Los Angeles.
