If you’re a fan of the Olympics, we have some exciting news for you: The 2028 Summer Olympics will be held in Los Angeles. The announcement comes after a heated rivalry between LA and Paris, with both cities vying to host the games. Paris will now host the 2024 Games.
This marks the first time the Summer Olympics will be held in the United States since 1996, when the events took place in Atlanta. Both Los Angeles, which previously hosted in 1932 and 1984, and Paris, which hosted in 1990 and 1924, will join London as the only cities to host the Olympic Games three times.
“This is an historic day for Los Angeles, for the United States and for the Olympic and Paralympic Movements around the world,” Los Angeles Mayor Eric Garcetti said in a statement. “This agreement with the IOC will allow us to seed a legacy of hope and opportunity that will lift up every community in Los Angeles—not in 11 years’ time, but starting now and continuing in the years leading up to the Games. LA 2028 will kick-start our drive to make LA the healthiest city in America, by making youth sports more affordable and accessible than ever before.”
As part of the agreement, the International Olympic Committee will give Los Angeles $1.8 million. Historically, the Olympics are an expensive endeavor for host cities. Researchers at Oxford’s Saïd Business School estimate the cost overrun for the 2016 Summer Olympics in Rio de Janeiro was $1.6 billion.
Mayor Garcetti said the planning committee estimates the Los Angeles games will cost $5.3 billion, which will be funded by the International Olympic Committee, local sponsorships, ticket sales and federal support for security. Los Angeles may be able to save on some costs because the city already has built-in infrastructure. The city plans to utilize existing dorm rooms at UCLA, the $2.8 billion future home of the NFL’s Los Angeles Rams and Chargers and the new Los Angeles Football Club soccer stadium. At this point, no additional permanent arenas will need to be built for the Olympics.
The International Olympic Committee will formally announce the hosts for the Games at a meeting in Lima, Peru, on Sept. 13.