JPMorgan Chase in talks to become top-tier Olympic sponsor ahead of LA 2028

JPMorgan Chase is closing in on a deal to join the International Olympic Committee's Olympic Partner programme, the most prestigious level of sponsorship within the Olympic movement, ahead of the 2028 Summer Games in Los Angeles, in a development that would mark a significant commercial boost for the IOC.

The Financial Times reported that three people with knowledge of the matter confirmed the US banking giant is in advanced discussions, with any deal set to take effect ahead of the LA Games, giving JPMorgan prominent commercial exposure in its home market.

JPMorgan's potential arrival would help shore up the TOP programme following the departure of several high-profile sponsors after the 2024 Paris Games, with Intel, Toyota and Panasonic all ending their top-tier arrangements. TOP revenue amounted to $560 million (€517 million) last year, the lowest figure since 2020.

JPMorgan would join an existing roster of TOP partners including AB InBev, Airbnb, Alibaba, Allianz, Coca-Cola, Deloitte, Omega, Procter & Gamble, Samsung, Visa and Chinese electronics company TCL. Such deals can be worth tens of millions of dollars annually, with Airbnb's 2019 agreement valued at $500 million (€461 million) through 2028.

The deal would extend JPMorgan's growing sports portfolio, which already includes the US Open tennis tournament and the England national football teams through its Chase retail business. In March, the bank established a council of prominent athletes including Tom Brady, Megan Rapinoe and Dwyane Wade as part of a broader initiative to provide financial advice to athletes.

JPMorgan increased its marketing spend by 11 per cent last year to $5.5 billion (€5.1 billion), more than double that of closest rival Bank of America, which holds the main bank sponsorship of the 2026 FIFA World Cup.

Access the full details of this developing Olympic sponsorship story.