JPMorganChase Banks Big on LA28 Olympics Partnership

JPMorganChase has made a significant investment in the sports industry by partnering with LA28, the organizers of the 2028 Los Angeles Olympics and Paralympics. The bank's nine-figure deal makes it the first-ever global banking partner for the event. According to Carla Hassan, JPMorganChase CMO, this partnership is a 'firm-wide initiative' aimed at expanding the bank's sports investment strategy.

The terms of the agreement have not been disclosed, but similar partnerships are estimated to cost upwards of $200 million per four-year cycle. The deal represents the latest push by JPMorganChase in the sports industry, which includes investments in Madison Square Garden and the Chase Center. The bank has also recently partnered with the Miami Heat and is a longtime sponsor of the US Open tennis tournament.

Hassan noted that the opportunity to partner with the Olympics was unique due to its international reach. JPMorganChase will evaluate the return on investment through various metrics, including brand strength, client engagement, customer acquisition, and employee pride.