- JPMorgan Chase may join the Olympic corporate partnership program ahead of 2028.
- Fraser Bullock declined to comment on potential contracts for Utah's 2034 Games.
- Utah's organizing committee expects $231 million from global sponsorship revenues for 2034.
SALT LAKE CITY — A U.S. bank could become a new worldwide Olympic sponsor.
JPMorgan Chase is in talks with the International Olympic Committee to join the worldwide corporate partnership program, the London-based Financial Times reported, citing three unnamed sources "with knowledge of the matter."
The sponsorship would start ahead of the next Olympics, the 2028 Summer Games in Los Angeles, according to the Financial Times report, but it is not clear whether it would last through Utah's 2034 Winter Games.
Fraser Bullock, president and executive chair of Utah's Organizing Committee for the 2034 Olympic and Paralympic Winter Games, declined to comment on what he said is "speculation around contracts."
Currently, 11 companies are part of what's known as The Olympic Program, including Coca-Cola and the Chinese dairy company Mengniu; Airbnb; VISA; Samsung; and ABInBev, the world's largest beer brewer.
Each has exclusive rights to market the Olympics globally in a specific category, such as nonalcoholic beverages for Coca-Cola and Mengniu, through multiyear deals that have been estimated to be worth hundreds of millions of dollars each.
How much revenue do Olympic sponsorships raise?
The IOC earned just over $560 million from the sponsor program in 2025, an audit made public earlier this year shows, the lowest annual total for that revenue source since 2020, according to Sportspro.
The earnings total was much higher a year earlier, $872 million, when Paris hosted the 2024 Summer Games. By the end of 2024, however, at least five companies left the sponsor program, including Toyota, Panasonic and Intel.
Games organizers receive a share of global sponsorship revenues from the IOC. For Utah's organizers, that's expected to add up to $231 million, less than half of what's anticipated from the IOC from the sale of broadcast and other media rights.
A much bigger source of revenue for Utah's next Games are local and national sponsorships, sold with the U.S. Olympic and Paralympic Committee. The privately funded organizing committee anticipates raising $1.8 billion, 45% of its $4 billion budget, from domestic sponsors.
New sponsor opportunities for 2034?
Utah and the USOPC, currently in the middle of putting together a joint venture to market the 2034 Winter Games and split the revenues, can't start signing sponsors until after the next U.S. Games, in Los Angeles, are over.
Whether they'll be able to go after a banking sponsor remains to be seen. Banking has typically been a category reserved for domestic sponsorships, but a JPMorgan Chase deal could change that.
North Carolina-based NationsBank, which merged with Bank of America, sponsored Utah's 2002 Winter Games, paying $50 million as a U.S. Olympic sponsor through the 2004 Summer Games in Athens, Greece, and allowing Utah organizers to borrow up to $170 million.
USOPC board chairman Gene Sykes, who is also a member of the IOC, told the Deseret News last fall that the product or service categories available for global sponsorships are being reviewed by a working group on commercial partnerships and marketing.
That could open up new sponsor opportunities for Games organizers, Sykes said, through "how much flexibility do you give a domestic program to define things that might be companions to the (The Olympic Program) program."
