×
You will be redirected back to your article in seconds

Los Angeles Reaches Deal to Host 2028 Olympic Games

Los Angeles leaders are expected to announce later today that they have reached a deal to host the Olympics in 2028.

The agreement has been in the works for several months, ever since the competition for the 2024 games narrowed to just two contenders: Paris and L.A. Rather than choose between two strong bids, the International Olympic Committee took the unusual step of deciding to award two games at once.

Paris has insisted on hosting the 2024 games, indicating that public subsidies would not be available four years later. Mayor Eric Garcetti has signaled that L.A. would likely end up with the 2028 event, noting last week that the 2024 bid “is not probably most likely to happen.”

The L.A. bid does not rely on public financing, but the city and state have agreed to provide a financial backstop in case of cost overruns. Bid leaders have predicted that the games will make money, which can be used for youth sports — as was the case after the 1984 Olympics. The L.A. bid also does not involve major new construction. An initial plan to build an Olympic village along the L.A. River was scrapped, in favor of housing athletes at UCLA dorms, and the sporting events will make use of existing stadiums and facilities.

L.A. took over as the official U.S. bid for 2024 after Boston withdrew in the face of stiff community opposition. Originally, five cities were competing for the games, but Rome, Hamburg and Budapest all dropped out.

More Biz

  • Kirk Kerkorian

    Kirk Kerkorian's Estate Settles With Widow for $12.5 Million

    The estate of late media mogul Kirk Kerkorian has a reached a settlement with his widow, who claimed she was entitled to a third of his $1.8 billion fortune. Una Davis will receive just $12.5 million under the deal, which is set for court approval on Wednesday. Davis married the mogul in March 2014, becoming [...]

  • Meg Whitman and Jeffrey Katzenberg Strictly

    Variety's Innovate Summit 2018: What We Learned

    New insights into how data collection plays a role in the tech and entertainment spheres were revealed at Variety’s annual Innovate summit held in Los Angeles on Wednesday. Meg Whitman and Jeffrey Katzenberg discussed the exciting future of television designed for mobile phone viewing with their new streaming platform, “Quibi,” an executive from “The Ellen Show” discussed the [...]

  • Capitol Music Group Names Amber Grimes

    Capitol Music Group Names Amber Grimes Senior VP of Global Creative

    Amber Grimes has been named to the newly-created position of Senior Vice President of Global Creative for Capitol Music Group, it was announced today by Chairman & CEO Steve Barnett, to whom Grimes will report. According to the announcement, in her new position, Grimes will be integrally involved in formulating and executing the company’s global [...]

  • Kevin Hart

    Why Kevin Hart's Mea Culpa Was Too Little, Too Late (Opinion)

    Forgive me if this sounds trite or preachy, but the importance of owning up to our mistakes cannot be overstated. Denials, silence, cover-ups, repudiation — all are unacceptable. Media outlets around the globe, including ours, wrote about how Kevin Hart initially took no responsibility for having posted disgusting homophobic tweets years ago that resurfaced when [...]

  • Annie Lennox, Chrissie Hynde, Industry Execs

    Annie Lennox, Chrissie Hynde, Industry Execs Sign Anti-Brexit Letter

    Annie Lennox, Chrissie Hynde, Pink Floyd’s Nick Mason, Paloma Faith, Ed Sheeran manager Stuart Camp and Grammy/Emmy award-winning film composer David Arnold and several leading UK music industry bodies are among the signees of a letter drafted by the new organization Music4EU, stating that Brexit “represents a significant threat to the UK’s music industry” and [...]

  • Kevin Hart Oscars Gay Tweet Controversy

    What Public Figures Should Learn From the Kevin Hart Oscars Debacle (Guest Column)

    When social media erupted over Kevin Hart’s anti-gay tweets from years ago, many in the media and the entertainment industry believed he would immediately apologize, LGBTQ people would critique but ultimately accept his mea culpa, and the comedian would go on to host the Academy Awards. If offenders make a commitment to do better, their [...]

More From Our Brands

Access exclusive content