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IOC Press Release: USD1.8 billion to Los Angeles 2028

Date : 01 Aug 2017

Lausanne, Switzerland, July 31, 2017: In line with Olympic Agenda 2020, the IOC is pleased to release today the Host City Contract 2028 following the declaration of candidature by the Los Angeles Olympic and Paralympic Candidature Committee for the Olympic Games 2028. In it, the IOC stipulates that it will make contributions to the Organising Committee representing an overall estimated value of USD 1.8 billion.

In comparison to the Host City Contract 2024, the IOC is making two major changes: 

*the IOC will advance funds to a Los Angeles Organising Committee in view of the longer planning period, and  

*to increase participation and access to youth sports programmes in the City of Los Angeles in the years leading up to the Games.

“The IOC welcomes this decision of the Los Angeles Olympic and Paralympic Candidature Committee and we are pleased to release the Host City contract 2028 in a transparent and timely manner,” said IOC President Thomas Bach.

“Los Angeles presented an excellent candidature that embraces the Olympic Agenda 2020 sustainability priorities by maximising the use of existing facilities and encouraging the engagement of more youth in the Olympic Movement. 

“Therefore, we are very happy that, as part of this Host City Contract, we are able to increase the access of the city’s youth to sport, and encourage the healthy lifestyle of Angelenos for the next 11 years. 

“We are very confident that we can reach a tripartite agreement under the leadership of the IOC with LA and Paris in August, creating a win-win-win situation for all three partners. This agreement will be put forward to the IOC Session in Lima in September for ratification.”

Source:
www.olympic.org

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