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Olympics: Los Angeles agrees to host 2028 Games; Paris gets 2024

The agreement must still be approved by the Los Angeles City Council and the US Olympic Committee

AFP | PTI  |  Los Angeles 

Olympics: Los Angeles agrees to host 2028 Games; Paris gets 2024

formally announced its bid for the 2028 on Monday after agreeing on a deal that paves the way for Paris to host in 2024.

"The Olympic and Paralympic bid committee in cooperation with the (IOC), today announced its intention for to host the and Paralympic Games 2028 and its agreement with the Host City Contract 2028," the LA bid committee said in a statement, confirming earlier comments from city officials.

had been in a race with Paris to host the 2024 Games, with the winner to be named by the on September 13 in Lima.

But the possibility that would abandon a 2024 bid and instead accept the 2028 Games has been growing since the decided in July that it would attempt to award both Games at its Lima meeting.

LA bid officials said Monday that an agreement had been reached with the on financial considerations that would make waiting an extra four years feasible.

"Under the terms of the Host City Contract 2028, the will advance funds to a Organizing Committee in view of the longer planning period and to increase participation and access to youth sports programs in the City of in the years leading up to the Games," their statement said.

"The contribution as stipulated by the HCC is USD 1.8 billion and has the potential to exceed USD 2 billion according to the evaluation of the LA bid committee when taking into account the estimated value of existing sponsor agreements to be renewed and potential new marketing deals."

The agreement must still be approved by the City Council and the United States

"The City Council and United States Board of Directors will consider the agreement for approval in August," the bid committee said.

"If approved, the IOC, LA and Paris may enter a tripartite agreement, clearing the way for Membership to simultaneously confirm the 2024 to Paris and the 2028 to at the next session in Lima, Peru on September 13, 2017.

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First Published: Tue, August 01 2017. 04:56 IST