LA ’28 and the USOC have completed negotiations and planning for the joint venture that will control all Olympics rights from ’21-28. Their agreement is now awaiting final IOC approval, sources said, which is expected within a few weeks. The new entity was registered earlier this month in Delaware as “United States Olympic and Paralympic Properties LLC.” Under IOC rules, the USOC and L.A. organizers must jointly sell sponsorships and other considerations to raise funds for the Games while not undermining long-term USOC interests. Roughly 30 USOC marketing staffers will join the joint venture, including CMO Lisa Baird, though their exact duties and other hires of the joint venture are not yet known, sources said. Their transition will happen over the next two months. Three current USOC marketing Senior VPs under Baird are also making the move -- Senior VP/Business Development Michael O’Conor, Senior VP & Managing Dir of Partnership Marketing Mitch Poll and Senior VP/Commerce & Events Peter Zeytoonjian -- while Senior VP/Marketing & Media Brian Gordon is staying with the USOC. While the LA ’28 and general USOC rights are not merged until ’21, the combined entity can begin selling in January ‘19. All current USOC sponsors’ deals expire by ‘20.
