On Wednesday, the Los Angeles City Council unanimously voted to approve the contract it would sign if L.A. is awarded the 2024 Summer Olympics bid.
Council members also approved a final list of venues, including the NFL stadium in Inglewood (currently under construction) and the Memorial Coliseum, which would be used for opening and closing ceremonies.
“The IOC’s Host City Contract is our promise that Los Angeles is ready to host an outstanding and fiscally responsible Olympic and Paralympic Games,” Mayor Eric Garcetti said. “If L.A. is selected as the 2024 Host City, our low- risk, high-tech and sustainable Games will inspire the next generation to grow the Olympic movement and provide social and economic benefits for our communities. Today’s City Council approval is its 14th unanimous vote in support of LA 2024, and it shows that our city is united to bring the Games back to L.A.”
LA 2024 is in a strong position, assuring a privately financed, balanced budget of $5.3 billion for the Games. Los Angeles would cover budget shortfalls, if any, according to the contract.
Using existing venues only was a key part of balancing the budget. And although Inglewood lies outside L.A. boundaries, it will be the closest, newest and most expensive sports venue available by the time the 2024 Summer Games comes around. The Inglewood stadium will be complete and welcome both the L.A. Rams and L.A. Chargers in 2019.
There will be a series of presentations made by LA 2024 to the International Olympic Committee between now and September, when the host city is chosen in Lima, Peru.