The International Olympic Committee oversees one of the world’s most powerful brands, which it guards strenuously. In the early 1980s, when Peter Ueberroth was serving as chairman of the Los Angeles Organizing Committee, he transformed the prospect of hosting the Olympics from likely failure to resounding potential success.
After the boycott of the 1980 Moscow games, the Olympic movement was in full crisis. In addition to the political turmoil between the Soviet Union and the United States – causing each superpower to sit out the other’s hosted games – the 1976 Montreal Olympics were a financial disaster, and the Munich games in 1972 produced the Black September massacre of nine Israeli Olympic athletes and coaches.
The 1984 Olympics were the first-ever privately funded Olympic operation. Instead of governments spending economic development dollars – Canada spent more than $1 billion for the privilege of hosting – Ueberroth emphasized surplus revenue as a key driver for the L.A. games.
The resounding success of the L.A. games included private financing, surplus revenue utilization, athlete-sponsor connections, and the TOP program, which redefined the concept of sports sponsorships by limiting the number of partners and relying exclusively on multi-year deals.
He also introduced the patron program, enabling wealthy donors to sponsor premium events and seats. John Naber, a U.S. Olympic Committee board member, highlighted, “The kids who couldn’t afford tickets were given free passes courtesy of the generosity of the wealthy.”
Under Ueberroth’s leadership, the 1984 Olympic Games achieved unprecedented financial success, generating a surplus of nearly $250 million that, forty years later, still supports youth sports activities throughout the United States and is a primary benefactor of the USOC.
Ueberroth’s partnership program forged long-term partnerships with global corporations. Officially introduced in 1985, The Olympic Programme is now the crown jewel of the IOC’s revenue pyramid, with TOP XII (2029-2032) including 14 companies, with several paying more than $300 million each.
Also appreciating the importance of beloved historical brands, Mark Hellendrung acquired the Narragansett beer brand from Pabst in 2005. In Narragansett, he saw an opportunity to resurrect the once-most popular New England beer, and he went for it.
As a native Philadelphian who bonded with the city of Boston while getting a graduate degree at M.I.T., I joined Narragansett as CFO in 2008. We rebuilt the brand’s identity by focusing on heritage and nostalgia, tapping into the rich history that Narragansett symbolizes.
We found a brand that has had remarkable global and cultural significance. Robert Shaw, as Quint, famously crushed a Narragansett can in the movie “Jaws.” Theodore Geisel – before he became Dr. Seuss – was the art director who created Chief Gansett. The brand’s journey also found its way into significant spots in popular films, including “Hall Pass” featuring Jason Sudeikis and “The Heat” with Sandra Bullock.
A significant milestone in the revival efforts happened by securing product placements at Fenway Park, tying Narragansett’s resurgence to the beloved regional icon that had been its one-time benefactor. Narragansett was the first-ever beer brand to sponsor a sports team when it became the official beer of the Boston Braves in 1944. A couple of years later, the brand began a second Boston baseball sponsorship with the Red Sox that lasted for more than 35 years and entertained generations of New Englanders.
As an upstart, New Narragansett resorted to unconventional branding methods, including innovative sponsorships like Dirty Water TV on NESN, New England’s Best Can Competition with Barstool Sports, and the OHINE bootleg sponsorship of the NHL’s Winter Classic at Fenway Park. The latter was captured in a Harvard Business School case study.
Today, Narragansett is the 22nd largest craft beer in the U.S.
Inspired by the success of Narragansett, we’ve recently applied similar principles to the Israel Swim initiative, a brand dedicated to supporting Israeli Olympic athletes during these tumultuous times – when most people are either booing them or finding ways to look elsewhere. The brand employs a five-color scheme reminiscent of the Olympics – blue, yellow, green, black, and red – without directly using the Olympic rings, thereby borrowing Olympic-esque elements while staying within international trademark rules.
Stylish merchandise, such as hats and beachwear, ensures that the products and the design resonate with supporters and athletes alike. The Israel Swim campaign not only provides financial and moral support to Israeli athletes and their families, but it also promises to send 18% of its profits to Israeli mission relief efforts, creating a sense of community and solidarity among its followers and evangelists.
The parallels between Peter Ueberroth’s transformation of the Olympic brand, the revitalization of Narragansett, and the rise of the Israel Swim initiative are striking. Each story began with a deep appreciation for heritage and culture and was driven by innovative strategies that created strong emotional connections with their audiences.
As Hermann Hesse once said, “To achieve the possible, we must attempt the impossible again and again.” Success in these ventures highlights the importance of bold vision, careful planning, and disciplined execution in turning ambitious dreams into reality.
