JPMorgan’s LA 2028 Olympics investment reaches from local branches to global banking
JPMorganChase’s Olympic deal spans LA28, Team USA and 2030, with new business bankers planned in Southern California.
By Frankie Delgado · News Reporter
3 min read
JPMorganChase’s LA 2028 Olympics investment is built to put the bank in front of customers from Southern California shops to worldwide corporate clients. The company became the Official Bank of Team USA and the LA28 Olympic and Paralympic Games on April 28, as well as a Founding Partner of LA28 and the first Global Banking Partner in Olympic history, according to the U.S. Olympic & Paralympic Committee and the International Olympic Committee.
The contract price has not been made public. CNBC reported that comparable top-level Olympic partnerships are estimated at more than $200 million for each four-year cycle, but that is not a disclosed JPMorganChase payment.
What does JPMorgan’s LA 2028 Olympics investment include?
The arrangement operates on several levels. In the United States, JPMorganChase is LA28’s retail-banking Founding Partner and Team USA’s official bank. Globally, it joins the IOC’s Worldwide Olympic Partner program in asset and wealth management, private banking, commercial banking and investment banking, the IOC said.
It covers both the Los Angeles 2028 Olympics and Paralympics and the French Alps 2030 Winter Olympics and Paralympics. The IOC said it will direct revenue from the worldwide deal to sports bodies, including national Olympic committees, athletes and Games organizing committees.
CNBC reported that Olympic organizers have consolidated rights across LA28, Team USA and Paralympic properties, allowing a sponsor to make a single deal covering those areas. That structure gives JPMorganChase access to Olympic marketing rights while connecting its local retail bank, its business banking operation and its global financial-services divisions.
A major local-market push
The bank already has a substantial Los Angeles footprint. The USOPC said JPMorganChase serves more than 5 million customers and 589,000 small-business clients across greater Los Angeles, with more than 330 branches and 6,000 employees.
CNBC reported that the company plans to add more than 100 business bankers across Southern California, a 30% increase, tied to its LA Games presence. JPMorganChase marketing chief Carla Hassan told CNBC the company wants small businesses to benefit from Olympics-related commerce.
The USOPC and IOC also said the firm plans financial-health workshops for athletes, including sessions through the IOC’s Athlete365 platform. Such workshops are planned initiatives, not completed programs. JPMorganChase will also work with NBCUniversal on its multi-platform LA28 coverage, the USOPC said.
Why is JPMorganChase spending on the Olympics?
Hassan described the partnership to CNBC as a firm-wide effort. She said JPMorganChase will measure its return through brand strength, client and customer engagement, customer acquisition and employee pride.
The worldwide component gives the bank a platform beyond Los Angeles. The IOC said JPMorganChase operates in more than 60 countries and has clients in more than 100 markets.
The signing also arrives after turnover among the Olympics’ highest sponsorship tier. CNBC reported that Panasonic, Toyota and Bridgestone exited that program after 2024. JPMorganChase’s deal is therefore a new commitment to the top rung of Olympic sponsorship, with the fee and eventual business return still unknown.
This story draws on original reporting from CNBC.