LOS ANGELES (CBSLA.com) — As word spreads that the United States Olympic Committee wants the U.S. bid for the 2024 Olympic Games to go to Los Angeles, Mayor Garcetti and other city leaders look to assemble a winning financial plan to win.
USOC members will look to make the decision official by the end of August, putting LA on the Olympic bid map against Rome, Paris, Budapest and Hamburg.
“We have everything in place, and that’s why Los Angeles is one of the few cities in the world that can host the games in a two-year time,” LA84 Foundation Vice President Patrick Escobar said.
Escobar says he is not surprised LA has emerged as the U.S. front-runner, having hosted games in 1932 and 1984, as well as just recently hosing the Special Olympic World Games this Summer. Recent polls also indicate 81 percent of Los Angeles residents support hosing the Olympics.
“That’s an unbelievable number compared to any other city,” Escobar said.
Wednesday’s news comes two weeks after the USOC dropped a bid for Boston that had been running short on support.
Southern California, however, has an abundance of existing venues, as well as numerous infrastructure improvements already in the works, which could help limit cost overruns.
“We have all that,” Escobar stated. “We have the venues, so our model is very different from any other city.”
The proposed budget for the games would be $4.1 billion, but city officials say LA would more than make up for it in ticket sales and sponsorships. The International Olympic Committee will vote on the 2024 host in September of 2017.