Los Angeles Olympics 2028 to allow naming rights to be sold

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• 00:00

  Hello and welcome to World Business Report from the BBC World Service.

• 00:03

  I'm Roger Hearing and on this edition,

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  the 2028 Los Angeles Olympics are going to be the first where companies can name venues after their brands.

• 00:14

  Also,

• 00:14

  the former boss of Mexico's state oil company is arrested in the US over a massive bribe scandal.

• 00:20

  And last orders, less alcohol is being consumed around the world.

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  So what does that mean for the companies that make and sell it?

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  Now, the next Summer Olympics are going to take place in 2028 in Los Angeles.

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  We already play on the world stage.

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  In 2028, when we welcome the games, we'll show the world the real LA.

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  Well,

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  the Los Angeles Olympics are going to be quite unique

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  because the modern Olympics began with a commitment to avoiding commercial exploitation.

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  The founder, Baron de Coubertin, envisaged a competition free from commercial influence.

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  The 1984 Los Angeles Olympics became the first privately funded Games demonstrating the potential for financial success through corporate sponsorships.

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  But there was some protest about the corporatisation and advertising.

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  Well, now as the Games return to LA in 2028,

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  the organisers have agreed a landmark deal with the International Olympic Committee that will allow venue naming rights to be sold to commercial partners for the first time in the Games history.

• 01:29

  Honda and Comcast are the first named partners.

• 01:32

  Well,

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