JPMorgan Chase is in talks to join the select group of Olympic sponsors ahead of the 2028 Games in Los Angeles, in a move that reinforces the enduring appeal of elite sporting competition to the world’s biggest companies.
The American banking giant is close to closing a deal to join the International Olympic Committee’s (IOC) list of corporate partners, according to three people with knowledge of the matter.
JPMorgan’s arrival would be a major boost for the IOC and president Kirsty Coventry, elected last year to replace Thomas Bach after big names like Intel, Toyota and Panasonic ended their high-profile sponsorship deals after the 2024 Paris Games.
In its government program, Coventry highlighted the need to adapt as audiences migrate from free-to-air television to digital platforms and streaming services. She promised to work with media rights holders to ensure the Olympic brand remains relevant.
The Olympic Partner Program (TOP) is the most prestigious level of sponsorship within the Olympic movement. The IOC introduced the program in 1985, ushering in a new era in sports marketing, with sponsors rushing to be associated with the five rings.
However, TOP has been under pressure recently following the departure of some sponsors, with its revenue totaling US$560 million (R$2.8 billion) last year — the lowest value since 2020.
JPMorgan would join AB InBev, Airbnb, Alibaba, Allianz, Coca-Cola, Deloitte, Omega, Procter & Gamble, Samsung, Visa and Chinese electronics company TCL in the program.
These deals can be worth tens of millions of dollars a year. In 2019, Airbnb closed a US$500 million (R$2.5 billion) deal to sponsor the Olympic Games until 2028.
AB InBev and Allianz renewed their partnerships with the IOC after the 2024 Games, while TCL joined TOP in February last year.
The IOC and JPMorgan declined to comment.
The deal would take effect before the upcoming Summer Olympics in Los Angeles, giving the bank prominent exposure in its home market, the sources said.
The sponsorship would be JPMorgan’s latest big bet on the sport, adding to an existing list that includes the US Open — one of tennis’ four Grand Slam tournaments — and England’s national soccer teams, through its Chase retail division. The bank also annually promotes the JPMorgan Corporate Challenge, a series of racing events.
In March, JPMorgan created a council of elite athletes, including seven-time Super Bowl champion Tom Brady, U.S. World Cup champion Megan Rapinoe and NBA Hall of Famer Dwyane Wade, as part of a broader initiative to provide financial advice to athletes.
JPMorgan increased its marketing spending by 11% last year, to US$5.5 billion (R$27.6 billion) — more than double that of its closest competitor, Bank of America, the main banking sponsor of the 2026 soccer World Cup.
