US Olympic fundraising team sets audacious goal of raising $500 million by 2028

AP National Writer

The fundraising arm for the U.S. Olympic team is revving up a donation drive aimed at raising $500 million by the time the Summer Olympics return to Los Angeles in 2028. Organizers are hoping to use the momentum of this year’s Olympics, which begin July 26, to bring in funds for the 4,000 to 6,000 athletes who compete for spots at both the Summer and Winter Games, about 800 of whom land on the U.S. rosters over a four-year period. Unlike most Olympic teams, the U.S. team does not receive government funding and relies mainly on fundraising, sponsorships and broadcast royalties from NBC.