Los Angles Will Host The 2028 Summer Games
The Summer Olympics are returning to the United States in 2028! 🇺🇸 pic.twitter.com/996GBSL4iz
— Sporting News (@sportingnews) July 31, 2017
It has been announced, that the city of Los Angeles will host the 2028 Olympics. It is the first time in 32 years, that the United States won the bid to host the Olympics. The Olympics will take place in Los Angeles California, for the first time since 1984. The United States has been trying to host the summer games again since the late 90s games in Atlanta Georgia. Los Angeles lost the bid to the 2024 Olympic games to Paris France, but as the old saying goes good things come to those who wait.
“It has been certainly a roller coaster,” L.A. bid chairman Casey Wasserman told The Times, adding that IOC officials “showed a real willingness to be thoughtful and creative.”
L.A.’S bid committee has estimated it would cost $5.3 billion to stage the Games and has predicted it can track all expenses through revenues such as sponsorships and ticket sales.
Los Angeles Mayor Eric Garcetti, who was at the forefront of spearheading the city’s effort, said the terms of Monday’s agreement should outweigh any increased uncertainty that comes with committing to a major event more than a decade in advance.
The IOC has predicted it will chip in $1.7 billion of its broadcast and sponsorship revenues to Paris in 2024.
Its contribution could rise to at least $2 billion by 2028 because of adjustments to the amount of sponsorship money L.A. would receive for the summer games.
The IOC has already agreed to give the city of Los Angeles an advancement of $180- dollars immediately.
For 2028, the IOC has agreed to advance L.A. a $180-million advance immediately. That is expected to cover the organizing’s committee’s costs for operating an extra four years and pump as much as $160 million into youth sports throughout the city.
Los Angeles bid estimate includes a $487.6 million contingency — money that would be set aside to compensate for the kind of cost overruns that have plagued recent Games, leaving the hosts with substantial deficits.
“Olympic experts have said that L.A. could be different because its plan relies on existing venues such as Staples Center, Pauley Pavilion, and the Coliseum.” David Wharton It avoids spending billions to build new stadiums and arenas. We will have to see what comes from the final agreement between all parties involved. DJ Hustle