Organizers of the Los Angeles Olympics will sell naming rights for a handful of its venues in deals expected to bring multiple millions of dollars to the 2028 Games while breaking down the International Olympic Committee's long-sacrosanct policy of keeping brand names off its arenas and stadiums.

For the first time in the history of the Olympic and Paralympic Games, LA28 announced that it has created the opportunity for corporations to purchase naming rights at competition venues.

LA28 Organizers said it's the first time in Olympic and Paralympic Games that such a bid has been undertaken, and it's part of the committee's mission to keep the Games fully privately funded with no new builds.