SBD/August 7, 2017/Olympics

L.A. Bid Committee, USOC Look To Flesh Out Marketing Agreement For '28 Games

At stake for Blackmun and the USOC is a figure in the neighborhood of $60M a year
LA '28 and USOC leaders over the next five weeks "have to iron out financial details about their joint marketing agreement that will figure heavily into the USOC's ability to fund its athletes and sports organizations" through the '28 Games, according to Eddie Pells of the AP. Early in the process of the '24 bid, L.A. and the USOC "locked in" a "six-year agreement in which the USOC was to receive" 20% of the revenue -- worth about $380M -- from the domestic deals that L.A. expects to negotiate. With L.A. now in position to host in '28, the USOC and L.A. will "try to expand that deal to eight years" ('21-28). USOC CEO Scott Blackmun and LA '28 Chair Casey Wasserman will "talk soon about whether the 20-80 split will remain in place -- and what other details need to change." At stake is "something in the neighborhood" of $60M a year, or "about one-third of the USOC's typical budget during a four-year cycle." The USOC puts $75M or more each year into "direct support to athletes and the governing bodies that run the sports." Even if the numbers work out, the USOC will "feel some pain." Its marketing department "will become a shell of itself because L.A. takes charge of the deal-making," and some of the department's 50 employees "might lose jobs." To "give up that much control," Blackmun will "want to cut a fair deal for the USOC." His goal is to "retain an amount that would equal" 20-30% of overall USOC revenues (AP, 8/5).

SAILING SHOES: In California, Donna Littlejohn noted two years ago, news that San Pedro’s waterfront was "picked as the potential L.A. Olympics sailing venue was hailed by locals." But the competition is now "slated to be staged off Long Beach’s Belmont Veterans Memorial Pier." LA '28 Chief Communications Officer Jeff Millman said, "It's a wind issue. In the end, there were just some course challenges in San Pedro that caused us to look elsewhere." Other problems with the San Pedro location include "kelp and problems in setting up secure and accessible viewing stands" (Torrance DAILY BREEZE, 8/5).
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