When the IOC awarded the 2024 Games to Paris and the 2028 Games to L.A., it created an "unusual, if expensive, opportunity for corporate sponsors," according to Ira Boudway of BLOOMBERG. Typically, companies sign multi-year deals without knowing where the Games will be held. This time, with the exception of the 2026 Winter Games, they will know exactly what they are buying "for the next decade: a pair of games from reliable hosts in two of the world’s richest markets." Former USOC CMO and current professor of sports management at Syracuse University Rick Burton said, "The presence of Paris and Los Angeles tells Western sponsors that the games are going to be really good in seven and 11 years." While the IOC maintains that its global sponsorships are a "great value no matter where the games are played," it is "well aware of the opportunity" that Paris and L.A. provide. IOC Managing Dir of TV & Marketing Timo Lumme said, "We have a very unique situation right now. From my own perspectives, of course, that will be very positive for the commercial marketing side, because you’ve got two great cities in two very important markets." 21 Marketing Founder & CEO Rob Prazmark, whose company has "helped the IOC evaluate its global sponsorship program," said that the base price for a four-year cycle is roughly $200M. Alibaba and Omega, which both signed deals earlier this year, "likely secured an early-bird advantage." Burton said, "My sense is that the leadership at both of those organizations probably saved millions by doing long-term deals." Prazmark said that with L.A. in the picture, the current U.S.-based sponsors will be under "increased pressure to extend." Prazmark: "Proctor & Gamble will have to think twice about whatever number the IOC comes in with because the U.S. is still the number one market for them" (BLOOMBERG, 9/28).
