CURRENT AFFAIRS

Detailed explanation-1: -Being one of the world’s largest consumer goods corporations, P&G established a 10-year contract with the IOC in 2010 which will be coming to an end after Tokyo 2020. In the summer of 2020, this deal was extended through to Los Angeles 2028.

Detailed explanation-2: -But now organizers of the 2028 Los Angeles Games are giving top-tier sponsors Delta, Salesforce and Comcast the chance to put their brand images inside its official logo.

Detailed explanation-3: -Funding of Olympic Games The number of companies sponsoring the Olympics annually reaches an average of 50 brands providing different forms of support. But traditionally, the major sponsors of the Olympics remain Coca-Cola, Samsung, Visa, Procter&Gamble, etc.

Detailed explanation-4: -Coca-Cola’s sponsorship of the 2022 Olympics is part of a joint venture with Chinese dairy conglomerate Inner Mongolia Mengniu Dairy. The two companies committed to invest $3 billion to jointly sponsor six summer and winter Olympic games from 2021 to 2032.

Detailed explanation-5: -The 2028 Summer Olympics, officially known as the Games of the XXXIV Olympiad, and commonly known as Los Angeles 2028 or LA28 is an upcoming international multi-sport event scheduled to take place from July 14 to July 30, 2028 in and around Los Angeles, California, United States.