LOS ANGELES (CBSLA.com) — As Boston drops out of the running to host the 2024 Olympics, Los Angeles finds itself as a possible frontrunner to host the games for the third time.

A series of conflicts on a broad range of issues caused Boston and the Olympic Committee to cut ties Monday, resulting in Boston dropping out of the running to play host.

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Los Angeles last played host to the Olympic Games 31 years ago in 1984, and the city of angels now has a chance to do it again, with what some say is a much firmer financial base than Boston.

“You have to be committed to spending as much money as the (International Olympic Committee) wants you to spend, and it can be incredibly expensive,” USC Institute of Sports, Media and Society professor Daniel Durbin said.

Los Angeles still faces stiff competition from other cities internationally. Durbin says he believes the IOC may look for a host city that has not hosted the games twice, as L.A. has.

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“(1932 and 1984) were both hugely successful Olympics, but that also leaves us as being a city that has hosted the Olympics, and the IOC often likes to look for new venues to host the Olympics, to broaden the audience, to broaden the impact,” Durbin said.

The U.S. Olympic Committee has yet to announce whether it will pick another city as a result of Boston’s withdrawal. However, the Los Angeles Sports Council says the assumption that L.A. is back in the bid is reasonable.

Los Angeles Mayor Eric Garcetti, who helped welcome the 2015 Special Olympic World Games at Los Angeles Memorial Coliseum on Saturday evening, says he would welcome the opportunity to pursue placing a bid to host the games.

“I would be happy to engage in discussions with the USOC about how to present the strongest and most fiscally responsible bid on behalf of our city and nation,” Garcetti said.

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The IOC will not make a decision until 2017.