Key Takeaways
- • Team USA is seeking outside financing for a new commercial rights vehicle, U.S. Olympic and Paralympic Ventures, according to CEO Sarah Hirshland, who spoke to Sportico on Tuesday.
- • The USOPC has hired the Raine Group to explore a stake sale or debt raise, and Sky News reported the new venture could be valued in the billions of dollars; Hirshland declined to comment on valuation.
- • Timing is driven by a gap in the Olympic commercial calendar: the existing LA 2028 partnership dissolves after that year, no agreement yet exists for the 2034 Utah Winter Games, and commercial rights renewals for 2029 and beyond begin in January.
- • Team USA revenue fell to $264 million in 2025, an off-year, from $496 million in 2024 during the Paris Games, per tax filings, underscoring the cyclical revenue base.
Summary
Team USA is seeking outside financing for a new commercial rights vehicle it is calling U.S. Olympic and Paralympic Ventures, chief executive Sarah Hirshland said Tuesday. The sports governing body is planning for two domestic Olympics and aims to better monetize fan engagement. News that the U.S. Olympic and Paralympic Committee (USOPC) had hired the Raine Group to explore a stake sale or debt raise was first reported by Sky News, which also said the new venture could be valued in the billions of dollars. Hirshland declined to comment on valuation. Asked whether the USOPC is open to investment from private equity, institutional capital or sovereign wealth funds, she said, "Our responsibility is to look at all of our options, and I would say we are doing that."
Hirshland said discussions about the venture date to 2024 and are now advancing because of a specific juncture on the Olympic calendar. The USOPC's existing commercial partnership with the Los Angeles 2028 organizing committee dissolves at the end of that year, and no corresponding agreement has yet been formed with the hosts of the 2034 Winter Games in Utah. In addition, beginning in January the USOPC enters the renewal period for commercial rights effective in 2029 and beyond, which increases the urgency of securing financing.
According to Hirshland, the new entity will cover domestic and global sponsorship and licensing deals, content distribution and direct-to-consumer sales. Utah 2034 ticketing and hospitality will be excluded and remain with the organizing committee. She framed the strategy around building fan bases and direct-to-consumer offerings, a focus she said applies across sports entities.
Revenue for Team USA is highly cyclical. According to tax filings, it reported $264 million in 2025, an Olympic off-year, compared with $496 million in 2024, the year of the Paris Summer Games. Existing domestic commercial partners include Comcast, Delta Air Lines, Google, Starbucks, Chase, Allstate and Honda, while global revenues are shared with IOC partners including Alibaba, Coca-Cola, Procter & Gamble and Visa.
The proposal comes after FIFA's leaked plan to sell stakes in its commercial operations drew strong opposition from member organizations, especially UEFA, and was ultimately withdrawn. Asked why a USOPC effort would fare differently, Hirshland said she was not privy to the FIFA plan but that "our support for Team USA athletes and our national governing bodies is at the center of our motivation... This is about growing the overall revenue pie for the constituencies that we serve."
Hirshland said discussions about the venture date to 2024 and are now advancing because of a specific juncture on the Olympic calendar. The USOPC's existing commercial partnership with the Los Angeles 2028 organizing committee dissolves at the end of that year, and no corresponding agreement has yet been formed with the hosts of the 2034 Winter Games in Utah. In addition, beginning in January the USOPC enters the renewal period for commercial rights effective in 2029 and beyond, which increases the urgency of securing financing.
According to Hirshland, the new entity will cover domestic and global sponsorship and licensing deals, content distribution and direct-to-consumer sales. Utah 2034 ticketing and hospitality will be excluded and remain with the organizing committee. She framed the strategy around building fan bases and direct-to-consumer offerings, a focus she said applies across sports entities.
Revenue for Team USA is highly cyclical. According to tax filings, it reported $264 million in 2025, an Olympic off-year, compared with $496 million in 2024, the year of the Paris Summer Games. Existing domestic commercial partners include Comcast, Delta Air Lines, Google, Starbucks, Chase, Allstate and Honda, while global revenues are shared with IOC partners including Alibaba, Coca-Cola, Procter & Gamble and Visa.
The proposal comes after FIFA's leaked plan to sell stakes in its commercial operations drew strong opposition from member organizations, especially UEFA, and was ultimately withdrawn. Asked why a USOPC effort would fare differently, Hirshland said she was not privy to the FIFA plan but that "our support for Team USA athletes and our national governing bodies is at the center of our motivation... This is about growing the overall revenue pie for the constituencies that we serve."
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