The members of the global olympic Committee have voted in favour of the attribution of the olympic Games in 2024 in Paris, this Wednesday evening in Lima.
Paris, which is expected to be awarded the 2024 Games, would also be hosting for the third time, and two cities were initially in competition just for 2024. Bid leaders estimate they can cover all expenses through revenues from broadcast rights, sponsorships, ticket sales and other sources. It previously hosted the Games in 1984 and 1932.
The announcement was celebrated in Paris with the unveiling of a giant set of interlaced rings, the symbol of the Games, in a heavy downpour on the Trocadero square with lights glittering on the Eiffel Tower in the background.
After the International Olympic Committee announced over the summer its desire to award both the '24 and '28 Games simultaneously, Mayor Eric Garcetti and other leaders reached a tentative agreement in July to host in '28, pending the official approval of the International Olympic Committee in Lima, making Wednesday's vote just a formality.
The London 2012 Games raised about $1.1 billion, while Rio de Janeiro in 2016 had claimed it had slightly surpassed London, but final accounts are sketchy given the current investigations for corruption linked to Olympic Games projects in Brazil.
At the time, they committed to working out a deal that culminated with each city getting an Olympics on Wednesday. "We're two great cities, it's two great Olympic hosts and it's going to be two great games".
It was two years ago that L.A.'s effort appeared to be over after the city lost to Boston in a competition to become the sole American bidder.
For Paris, however, the wait has been considerably longer.
Los Angeles received concessions for agreeing to host four years later, including receiving a portion of the IOC's surplus from the Olympics to fund youth sports programs in the city. Negotiations between L.A. and the International Olympic Committee began in earnest last July and, by early August, the deal was done.
"Now L.A. 2028 has a golden opportunity, with four more years to prepare and a $2 billion contribution from the International Olympic Committee, to redefine how hosting the Games can benefit host communities".
Los Angeles, meanwhile, will get an extra four years, though the city claims it doesn't need them.
The vote during the IOC's session in Lima, Peru, gives the United States its first Summer Games in 32 years. "I am thrilled to begin the next chapter of this process".