Paris and Los Angeles were the only two cities to reach the final stage of bidding for the 2024 Olympic Games.
Los Angeles (1932, 1984, 2028) and Paris (1900, 1924, 2024) will join London as the only cities to host three Olympic Games. The United States last hosted an Olympic Games in 2002 in Salt Lake City, Utah.
According to the Los Angeles Times, the bid competition started as a race for 2024, but changed in June when the committee chose to give 2024 to Paris and 2028 to Los Angeles. The Times cited a source close to the negotiation saying the deal had been reached.
There has been nothing official from the Mayor's office or the Casey Wasserman-led LA 2024 but City Council member Gil Cedillo did tweet out this morning that "hashtag goes from #LA2024 to #LA2028" as reports surfaced in the L.A. Times of the deal. It's the first time the Summer Olympics will be in the US since Atlanta in 1996 and the first games overall in the country since the Salt Lake City Winter Olympics in 2002. Mayor Eric Garcetti is expected to make the announcement official later today at a press conference. The L.A. Olympic Committee previously said hosting costs would amount to roughly $5.3 billion, according to projections released last December.
While Los Angeles was expected to push for youth sports funding and other possible financial considerations, terms of the deal were not immediately known. By September 2016, L.A. and Paris emerged as the finalists for the event.
Los Angeles claim that no new construction will be required for its Games, but for 2028 it's possible that aging venues may need some further upgrades.