The US Olympic and Paralympic Committee (USOPC) is in the advanced stages of establishing an entity that could sell a stake in Team USA’s commercial rights in exchange for capital, according to multiple reports. Board meeting minutes show the proposed venture would be called United States Olympic and Paralympic Ventures (USOPV), and that work on the plan has been underway for months.

The minutes say USOPC CEO Sarah Hirshland reported encouraging early feedback from potential investment and strategic partners. The committee is being advised by investment bank Raine Group, Sky News reported, adding that the venture could be valued in the billions of dollars. Raine did not immediately respond to a request for comment.

Any deal would represent a notable change for the nonprofit USOPC, which relies heavily on sponsorships, licensing and other commercial revenue rather than government funding. The committee said it is evaluating commercial options to generate additional resources for athletes and national governing bodies while preserving its mission, governance and leadership. It added that athlete and federation representatives have been consulted.

The proposal comes as the United States prepares to host the 2028 Summer Olympics in Los Angeles. Hirshland told Reuters that the USOPC is preparing to move on from its commercial partnership with LA28, United States Olympic and Paralympic Properties, which ends after the Games.

Hirshland described USOPV’s commercial model as “very much in progress” and declined to provide specific details. She said the transition had been discussed and prepared for over several years. After Los Angeles, the USOPC will turn its attention to the 2034 Winter Games in Salt Lake City, and Hirshland said the organization is considering a structure that could include future host organizations.

The USOPC’s plans follow a failed proposal by Fifa to create a $20 billion subsidiary to run the World Cup and other events, with external investors offered stakes of up to 20%. The proposal drew opposition across global soccer and threatened Fifa president Gianni Infantino’s job security.

Sources: The Guardian Sport.