It was two years ago that L.A.’s effort appeared to be over after the city lost to Boston in a competition to become the sole American bidder.
But when the Massachusetts capital withdrew over cost concerns, L.A. quickly stepped into what eventually became a two-city race with Paris for the 2024 Games.
The competition, which appeared to be close, took a dramatic turn with talk of the IOC naming two winners, giving 2024 to one city and 2028 to the other.
The move made sense because there have been so few candidate cities, so with two viable bids, Olympic leaders warmed to the idea of locking up summer hosts for the next 11 years.
The only question was: Which city would agree to take 2028?
From the start, Paris insisted it could not wait around. Negotiations between L.A. and the IOC began in earnest last July and, by early August, the deal was done.
In return for going second, L.A. will not have to pay tens of millions in IOC fees and will receive a $180-million advance, most of which will go to funding youth programs citywide beginning as soon as next year.
The rechristened LA 2028 committee will also get a larger slice of IOC revenues and will not have to give the IOC a standard 20% of its surplus if the Games run under budget.
The Los Angeles City Council unanimously supported the agreement at a session marked by vocal protests last month.
“Today, LA 2028 is taking the final step in our bid, and preparing to begin our 11-year journey as an Olympic host city,” Garcetti said. “I am thrilled to begin the next chapter of this process.”
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