US Committee seeks outside investors for new commercial venture

LONDON/NEW YORK, Nov 3 : The US Olympic and Paralympic Committee (USOPC) is in the advanced stages of setting up a commercial entity to sell a stake in return for capital, two people with knowledge of the matter told Reuters.

Any deal would mark a significant shift for the USOPC, a non-profit organization that, unlike many national Olympic committees, relies heavily on sponsorships, licensing and other commercial revenue streams rather than government funding.

The plan has been in the works for months, according to minutes of USOPC board meetings which showed the proposed commercial entity would be named United States Olympic and Paralympic Ventures (USOPV).

"(USOPC CEO Sarah) Hirshland reported encouraging feedback from preliminary discussions with potential investment and strategic partners," the minutes said.

"Prospective partners generally validated the vision for the USOPV and strategic rationale underlying the initiative."

The USOPC is being advised by investment bank Raine Group, according to Sky News, which said the venture could be valued in the billions of dollars. 

Raine did not immediately respond to a request for comment.

The potential deal comes as the United States prepares to host the 2028 Summer Olympics in Los Angeles and seeks to capitalize on growing investor interest in sports assets and intellectual property.

USOPC CEO Sarah Hirshland told Reuters that her organization was preparing to transition away from its commercial partnership with LA28, known as United States Olympic and Paralympic Properties, which comes to an end after the Games.

USOPV COMMERCIAL MODEL IN PROGRESS

Hirshland said what the commercial model for the USOPV will be - and the details behind it - were "very much in progress" and declined to