Los Angeles proposes $4.1B budget if Olympic candidate

When its candidacy flamed out late last month, Los Angeles’ prospects to host a third Olympics were revived.

Los Angeles Mayor Eric Garcetti will sign an agreement with the worldwide Olympic Committee that would make Los Angeles responsible for budget shortfalls in hosting the 2024 Olympic Games. But numerous venues are already in place here, which could help make the Games in Los Angeles billions cheaper to put on than they would be nearly anywhere else. “On the one-to-five hot scale, one being the coldest, my personal assessment, for what it’s worth, is about a one”, he said, according to the Times.

The IOC has encouraged USA to bid for the 2024 Games after the country skipped the 2020 process. Any announcement about the details of LA’s bid would likely would not come until mid-September, when the USOC has to decide on which American city, if any, it will nominate to host the games. “I think it’s who we are”, Garcetti said. “This guarantee was not only cost overruns but also for the minute intervals between our trains running on time and special access lanes for the IOC”.

Two worldwide Olympic Committee members silhouetted against a video display of the…

Other Boston 2024 officials could not be reached for comment Monday night.

The sum includes $200 million to cover city expenses, Jeff Millman said.

Part of the reason that Boston reportedly pulled out of the U.S. bid was over money. San Francisco and Washington, D.C. had also submitted bids.

A $4.1 billion Los Angeles bid would not cost significantly less than the .595 billion Boston games, though experience has shown that when it comes to the Olympics, projection and reality can be far apart.