After serious debating over who would claim the 2024 spot, the U.S. has been confirmed the host of the 2028 Summer Olympics, via a report from the Los Angeles Times. Speaking of which, L.A. is where the Olympics will take place, the first time since 1984.
The International Olympic Committee was expected to come out publicly this afternoon to confirm the news, but it looks like we’ll have to rely on reports about the announcement for now.
To gear up for the Games, L.A. will be granted a minimum $1.8 billion for the organizing committee and will receive a $180 million advance immediately that’s expected to cover an extra four years of operating costs, according to the Times. It’ll also pump an extra $160 million into youth sports throughout the city. Normally, cities aren’t granted such advances until a couple of years before the opening ceremony. so it’s unnatural to see L.A get such an advance eleven years beforehand.
Overall, L.A. is expected to spend $5.3 billion to host the Games in their city. They expect to gain it back via revenues like ticket sales and sponsorships. It’s obviously a lot of dough, so it’ll be interesting to see if they make every dime back.
L.A. saw a major opportunity for their city when the question arose as to whom would host the 2024 games. It was them against Paris. and the latter wouldn’t wait another four years for their Games. So, L.A essentially settled for the 2028 timeslot, and they likely made the right choice. This gives then over a decade to prepare which will be beneficial for everyone involved.
Of course, it also comes with its own set of risks. When L.A. was originally planning to bring the Games to the States, they had the 2024 timeframe in mind. This means that further preparations and higher costs could hit the committee when the time comes to bring the Summer Olympics to the U.S. Still, in the end, the Olympics are finally coming back to America, and that should be the headline for everyone and anyone reading today’s news.
The IOC will announce the hosts for the 2028 Summer Olympics on September 13th during a meeting in Peru.
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