Visa will retain priority: what the CBA agreement means for the 2032 Games payment market
19 February 15:16
The organizing committee for the 2032 Summer Olympics in Brisbane has signed its first major sponsorship deal. Australian financial giant Commonwealth Bank (CBA) has become a partner. This was reported by SportsPro, according to "Komersant Ukrainian".
According to the Australian Financial Review, the contract is valued at at least 200 million Australian dollars (approximately 141.4 million US dollars). This is the organizing committee’s first significant commercial step towards its target revenue of 2 billion Australian dollars.
Limited space for promotion
However, CBA will not achieve complete dominance at the Olympics. Visa remains the International Olympic Committee’s (IOC) top-level global partner in the payment category.
This means that Visa will most likely have priority in placing payment terminals and promoting its services at the Games venues. For CBA, this partnership is more about image and national presence than a monopoly in the payment infrastructure.
After 37 years with cricket
For Commonwealth Bank, this deal was a strategic shift. In 2025, the bank ended its 37-year partnership with Cricket Australia.
Its competitor, Westpac, quickly filled this niche by signing a $28.3 million contract with the federation. At the same time, Westpac withdrew from its Olympic partnership, effectively paving the way for CBA to sign a deal with Brisbane 2032.
Thus, for CBA, this is not only marketing, but also a response to competitive challenges in the sports sector.
Growing budget
The agreement was signed at a time when preparations for the Games are gathering pace — and costs are rising.
Organising committee president Andrew Liveris acknowledged that the budget is being revised upwards. When the International Olympic Committee approved Brisbane’s bid in 2021, the cost was estimated at A$4.9 billion (US$3.46 billion).
Now the figures may change.
“I think the figures will be revised more than once, given the political situation in the world. This is common practice,” Liveris said.
Against the backdrop of recent Olympic Games — from Paris 2024 to Milan-Cortina 2026 — the issue of the cost and profitability of mega sports projects remains politically sensitive.
Third Australian Olympics
The Games will take place from July 23 to August 8, 2032, in Brisbane and the Southeast Queensland region.
This will be Australia’s third time hosting the Summer Olympics, following the 1956 Summer Olympics in Melbourne and the 2000 Summer Olympics in Sydney.
