LA council endorses 2028 Olympic bid

LA council endorses 2028 Olympic bid

In the two-hour meeting on Friday, representatives from Chief Legislative Analyst, City Administrative Officer and City Attorney reported briefly their assessments to the Host City Contract, Memorandum of Understanding and other actions for the 2028 Summer Olympic and Paralympic Games. "To create a new Olympic legacy for the next generation and deliver access to sports and fitness programs to every community in Los Angeles".

With Los Angeles coming up with the 2028 bid for the Games, the athletes and volunteers from the previous LA Olympics reflect upon their experiences.

The vote will take place less than two weeks after the city announced an agreement with global Olympic leaders that will open the way for Los Angeles to host the 2028 Games, while ceding the 2024 Games to rival Paris. However, an independent analysis of a new budget in the works for 2028 will not likely be completed for months.

The council members voted 12-0 in favour of signing off on the documents which would see the city host the Summer Games for the third time in history. Nor will they have an independent evaluation of that updated budget.

The LA City Council was behind the LA 2024 agreement however with the new 2028 plan they were required to re-vote for the different conditions.

The vote means that Los Angeles, Paris and the International Olympic Committee will now join forces on a three-way agreement ahead of the IOC's September 13 meeting in Lima, Peru when the Games will be officially awarded.

Safe-haven currencies rise as North Korea tensions brew
In the eurozone, the Paris CAC 40 dropped nearly 0.7 per cent to 5,081.92 points compared with the closing level on Thursday. It was 0.2 percent lower at 1.1310 francs, compared with highs of 1.1537 francs hit a week ago.

Los Angeles mayor Eric Garcetti also endorsed the idea. With the Legislature on recess, it is not guaranteed that the state will approve the same amount for 2028 by a deadline of August 18.

"Today's vote by the City Council is a resounding show of confidence in our fiscally responsible plan for 2028, and more evidence of Angelenos' passion to return the Games to LA".

"This new MOU ensures that our City priorities remain front-and-center in LA 2028's preparations for the Games".

There are not expected to be any "major" changes to the initial bid plans for the earlier edition.

Under the agreement, LA 2028, the committee behind the city's Olympic campaign, will invest up to $160 million to increase youth sports programmes in the city during the 11 year run-up to the Games.

Los Angeles officials have said the city would not need to build any new permanent venues to host the Games since LA already has multiple stadiums, arenas and college campuses.

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