Business & Economy

LA reaches key marketing deal with US Olympic Committee

Signing off on LA 24: Athletes signed a placard before the U.S. Olympic Committee named Los Angeles the bid city for the 2024 Olympic Games
Signing off on LA 24: Athletes signed a placard before the U.S. Olympic Committee named Los Angeles the bid city for the 2024 Olympic Games
Brian Watt/KPCC

The U.S. Olympic Committee and leaders of the effort to bring the 2024 Games to Los Angeles have reached terms on a marketing agreement, clearing a major hurdle nearly a year before those Olympics are awarded.

The Joint Marketing Program Agreement would shift a majority of the USOC's marketing revenue over to the host city for a period surrounding the Olympics.

The inability to reach an agreement on the marketing deals until the 11th hour played into the failures of both the 2016 Chicago bid and the 2012 New York bid.

USOC CEO Scott Blackmun called Friday's agreement noteworthy because it showed the strength of the partnership between bid and USOC leaders.

The 2024 Olympics will be awarded next September, with Los Angeles and Paris considered the top contenders.