LOS ANGELES (CBSLA.com) — Budapest is withdrawing its bid to to host the 2024 Summer Olympics, leaving only Los Angeles and Paris to compete for the games, according to reports.

Hungarian government spokesman Zoltan Kovacs confirmed the decision to The Associated Press on Wednesday. The decision awaits approval by the Budapest City Assembly.

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Hungary’s governing party said the decision was an attempt to avoid “a loss of international prestige” if Budapest were to be passed over by the Olympic committee in favor of Los Angeles or Paris.

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The  party said it perceived Budapest’s chances of winning the bid to be quite small.

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The International Olympic Committee will choose the host city in September.