Los Angeles Declares Candidature for Olympic Games 2028 - IOC to contribute USD 1.8 billion to the local Organising Committee
In line with Olympic Agenda 2020, the IOC is pleased to release today the Host City Contract 2028 following the declaration of candidature by the Los Angeles Olympic and Paralympic Candidature Committee for the Olympic Games 2028. In it, the IOC stipulates that it will make contributions to the Organising Committee representing an overall estimated value of USD 1.8 billion.
In comparison to the Host City Contract 2024, the IOC is making two major changes: the IOC will advance funds to a Los Angeles Organising Committee in view of the longer planning period and to increase participation and access to youth sports programmes in the City of Los Angeles in the years leading up to the Games.
“The IOC welcomes this decision of the Los Angeles Olympic and Paralympic Candidature Committee. and we are pleased to release the Host City contract 2028 in a transparent and timely manner,” said IOC President Thomas Bach. “Los Angeles presented an excellent candidature that embraces the Olympic Agenda 2020 sustainability priorities by maximising the use of existing facilities and encouraging the engagement of more youth in the Olympic Movement. Therefore, we are very happy that, as part of this Host City Contract, we are able to increase the access of the city’s youth to sport, and encourage the healthy lifestyle of Angelenos for the next 11 years. We are very confident that we can reach a tripartite agreement under the leadership of the IOC with LA and Paris in August, creating a win-win-win situation for all three partners. This agreement will be put forward to the IOC Session in Lima in September for ratification.”
The IOC will continue to work in close collaboration with Los Angeles in the lead-up to the possible ratification of the tripartite agreement by the full IOC membership at the IOC Session in Lima, Peru, in September 2017.
The International Olympic Committee is a not-for-profit independent international organisation made up of volunteers, which is committed to building a better world through sport. It redistributes more than 90 per cent of its income to the wider sporting movement, which means that every day the equivalent of 3.25 million US dollars goes to help athletes and sports organisations at all levels around the world.
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