Nike Becomes First Sponsor for 2028 LA Olympics

Shoeography | Tuesday, April 16, 2019 | 0 comments

When it comes to long-term goals, most of us are content with forming a five-year plan. But popular shoe and apparel company Nike is looking a little further down the road by nearly a decade.
The athletic corporation has officially become the first sponsor for the 2028 Olympics, which is set to be held in Los Angeles. In partnership with the United States Olympic Committee established in January, Nike has snagged the highly desired spot to supply Olympic athletes with clothing, merchandise, and more.

As a sponsor for the colloquially dubbed LA28, Nike hopes to bring meet the $2.5 billion sales target for domestic revenue.

"It's so important to get a big start coming out the gate, and a well-known brand coming out of the gate, because it will set the tempo going forward and really raise the expectations of the marketplace," notes Rob Prazmark, the doyen of American Olympic sponsorship sales.

This is the first time the United States has held the Summer Olympic event since 1996. This huge marketing campaign can help Nike both on the field and online. While Google receives more than 63,000 searches per second, Nike's association with blockbuster events like the Olympics will boost its ecommerce revenue across the globe. But this isn't the first time Nike has engaged with sponsorships for domestic sporting events.

The shoe and apparel company already has long-term sponsorship deals established with the MLB and the NFL that are set to run through 2030.
Though the exact details of Nike's new deal with the Olympics have not yet been revealed, there are a few facts we know so far.

First, it's expected that Nike will supply the majority of the Olympic apparel and outfits for the American athletes partaking in the event. Nike will also likely cover any fan merchandise and even supply the apparel for volunteers working at the event.

Sources claim that Nike is already working on a custom logo design for LA28 with the help of the committee.

Second, there are whisperings that Nike might also help the Olympics fund local sports youth programs throughout Los Angeles. With more than 25 million kids playing soccer across the globe, this popular sport has created numerous fields and teams throughout the LA area. Should Nike get involved with youth sports in LA, they could help supply children with uniforms and impact the quality of local athletic facilities.

Nike is reportedly valuable for the Olympics because of its ties to young athletes who are culturally relevant, two characteristics the LA28 event hopes to replicate.
"We believe Nike's innovation engine is just ramping up as they have already announced an entirely new running platform for 2019, as well as the further rollout of the adaptive technology beyond basketball," reports B. Riley after performing its 2019 athletic survey.

The survey also reported that Nike shoes has maintained its number one spots in the running category, the basketball category, and the casual footwear category among consumers.
But though Nike has ramped up in popularity among young people, it also maintained its popularity among older folks. It's said that the happiest retirees are those who perform three to four activities each day, including athletic activities.

This positive view of the Nike brand is just one of the reasons it was an attractive fit for the LA28 sponsorship.

As Nike and the USOC smooth out wrinkles in the contract there's also a chance for Nike to sponsor Olympic events for the United States through 2032. Currently, rumors claim the sponsorship deal could cost more than $200 million.

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