USOC TO GET FIXED AMOUNT IN DEAL WITH L.A.

LIMA, Peru — The U.S. Olympic Committee and Los Angeles 2028 Olympic organizers have agreed to a revenuesharing deal in which the USOC will receive a fixed amount over eight years instead of the 20 percent cut of gross revenues that had been agreed upon in the 2024 contract, a person familiar with the negotiations told The Associated Press.

The joint marketing agreement had to be reworked when Los Angeles agreed to host the 2028 Games, with Paris staging the 2024 Olympics. The International Olympic Committee will officially name the host cities Wednesday.

The AP learned specifics of the agreement from a person familiar with the negotiations who did not want to be identified because the details have not been made public. The IOC has not officially approved the new deal but in its report on the 2028 bid, it said it had “no major concerns” with the agreement.

The joint marketing agreement figures heavily into the USOC’s ability to fund its athletes, and sorting out the deal was one of the biggest hurdles to clear heading into this week.

When a city is awarded the Olympics, it had also traditionally taken over its country’s domestic sponsorship program for a six-year period leading into those Games. This reworked deal will last eight years, from 2021-2028. The idea is to prevent the country’s Olympic committee and the host city from selling competing sponsorships for essentially the same product.