LA 2028 Gets Sponsorship Agency -- Sponsor Spotlight

(ATR) Also: Financial troubles for TOP Sponsor GE; USA Weightlifting gets nutrition partner.




(ATR) The joint marketing venture of the United States Olympic Committee and LA 2028 tapped Legends to be the firm to sell sponsorships for the Games.

Legends will "sell the collective LA 2028 and Team USA story" as part of its agreement with U.S. Olympic & Paralympic Properties, the joint group created to market the 2028 Games. The deal includes the right to sell Team USA sponsorships for the 2022, 2024, and 2026 Olympics as well under the USOPP umbrella.

"Never before in the Olympic movement have we had a known 10-year time horizon to imagine stories and create platforms to engage and connect with people," Casey Wasserman, LA 2028 chair, said in a statement about the deal. "The opportunity ahead is unprecedented."

Consolidating marketing under the USOPP agreement means that there will be no in-house marketing from the USOC through the 2028 Summer Olympics. Earlier this month former Soccer United Marketing head Kathy Carter took over leading the USOPP. She will also serve as chief revenue officer of LA 2028.

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GE Share Troubles Continue

IOC TOP Sponsor GE slashed its dividend to just a penny a share, showing more financial trouble for the corporation, analysts say.

The move will save the company $3.9 billion a year according to a report in CNN Business.

"We are on the right path to create a more focused portfolio and strengthen our balance sheet," Larry Culp, GE CEO, said in a statement.

Culp had previously told investors in a conference call announcing his appointment "this is not a quarter that we're particularly proud of," according to the CNN report.

GE’s TOP Sponsorship is set to run through Tokyo 2020.

USA Weightlifting Adds Nutrition Sponsor

Ascent will aim to provide U.S. weightlifters with "clean protein" and other supplements through the Tokyo Olympics.

The deal is the first ever such sponsorship for USA Weightlifting. It took effect before the 2018 World Weightlifting Championship in Ashgabat, Turkmenistan.

Doping in weightlifting has been a hot button issue the last few years, as the amount of Olympic retests yielding positive results led the IOC to warn the sport about its position on the Olympic program. Last year, the International Weightlifting Federation hit nine countries with a one year ban for repeated doping violations.

"Ascent’s mission is to naturally improve athletic performance, and it sets the highest possible standard when it comes to clean, pure ingredients," Phil Andrews, USA Weightlifting CEO, said in a statement. "Sharing these similar values with USA Weightlifting provides the foundation for a strong partnership, and that’s why we’ve decided to partner with a performance nutrition company for the first time in our history."

Written by Aaron Bauer

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