LOS ANGELES — Los Angeles’ roller-coaster campaign to host the Olympics, an effort marked by early defeat and last-second negotiations, reached its conclusion Wednesday when the city was formally awarded the 2028 Summer Games.

International Olympic Committee members, by a unanimous show of hands, voted their approval at a session in Lima, Peru, ending an unusual bid competition that resulted in two winners as Paris was simultaneously given the 2024 Games.

“Everyone connected with LA 2028 is thrilled to be part of this win-win-win scenario for the Olympic movement,” bid leader Casey Wasserman said in a statement. “Together, L.A., Paris and the IOC will demonstrate the Games’ enduring value to host communities.”

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Immediately after the vote, Mayor Eric Garcetti signed the controversial “host city contract,” promising the city government will serve as a financial backstop, paying off any debts should the estimated $5.3 billion sporting event run over budget.

LA 2028 has sought to cut costs by using existing venues such as the Coliseum and Staples Center. Bid leaders estimate they can cover all expenses through revenues …read more

Source:: The Denver Post – Sports

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