The Los Angeles bid committee for the 2024 summer Olympic and Paralympic Games has signed a marketing agreement with the United States Olympic Committee (USOC).
As part of the deal, the USOC will sign over the majority of its sponsorship revenue to Los Angeles, should the city be successful in its bid to stage the Games.
The International Olympic Committee requires that the agreement prevents crossover sponsorship deals between the two entities. The deal has been signed at an early stage so as to remove the risk of issues arising at a later date, as has been the case with previous failed Olympic bids from US cities.
“We didn’t want it to become an issue,” USOC chief executive Scott Blackmun (centre of picture) said, according to the Associated Press news agency. “We made the decision, and realised that sooner is better than later.”
Los Angeles faces competition from Budapest, Paris and Rome in its quest to stage the Games, although the latter’s bid is effectively over after it was rejected last week by the Italian capital’s Mayor, Virginia Raggi. The IOC will announce the host city in September 2017.