Nike is close to completing a deal to become the the first major sponsor of the 2028 Olympic and Paralympic Games in Los Angeles, according to the Sports Business Journal.
Nike would include outfitting all U.S. teams and event volunteers as well as the rights to sell merchandise. Some industry experts have estimated that Nike could pay as much as $200 million to be a sponsor because of the merchandising, licensing and promotional potential of a deal with Los Angeles 2028 – the first summer Olympic Games to be held in the US for 32 years.
