A page is turning for Los Angeles 2028. Already. The Games organizing committee announced on Tuesday, December 11, the departure of its executive director. Gene Sykes, one of the major figures in the Californian bid for the 2024 and 2028 Summer Games, will leave his position on January 1, 2019.
The Californian moves away, but without completely abandoning the adventure. Gene Sykes will retain a place within LA 2028. He will play an advisory role. He will also soon join the board of directors.
For Los Angeles 2028 and for its president, Casey Wasserman, the departure of Gene Sykes is a hard blow. The former investment banker, very high in the hierarchy at Goldman Sachs, joined the candidacy committee in November 2015. He was in charge of it until the final decision, without receiving the slightest salary. By all accounts, he had been one of the most influential players in Los Angeles' campaign to win the Summer Games.
Since the designation of the Californian metropolis as host city for the 2028 Olympics, Gene Sykes has continued to lead the maneuver. According to a press release from LA 2028, he had “ worked with Casey Waserman to ensure a successful transition to an organizing committee"
A hard blow, then, but not really a surprise. Gene Sykes had always hinted that he would return to his starting point, the investment bank Goldman Sachs, once the Olympic bid was completed. He should find his partner’s office there full time.
His successor is not expected to be immediately named. LA 2028 indicated that there was no urgency to appoint a replacement. “ We are well equipped for what lies ahead.”, suggests Casey Wasserman, cited by the Los Angeles Times.
The organizing committee and the USOC have formed a joint structure dedicated to marketing the 2028 Games. It is made up of around thirty people, based in Los Angeles, New York and Colorado Springs. Its mission: to market the LA 2028 Games, from January 1, 2019, to private partners. With the announced objective of reaching the sum of 2,5 billion dollars in sponsorship contracts.
With his knowledge of the case, and his experience in the world of finance, Gene Sykes will be of invaluable assistance. Even as a simple advisor.
