International Olympic Committee confirms Paris, LA as hosts for 2024, 2028 Olympics

This will be the third time Paris and Los Angeles have hosted the games. Paris will also get to host on the centennial anniversary of the 1924 Olympics.

President Macron greeted the announcement of the Paris win, saying it was a "formidable recognition of France" and added "a new page will turn in the next seven years. and the Games represent a magnificent opportunity to accompany the transformation of our country".

"For a city and nation to decide to stage the Olympics Games is to decide to take on one of the most costly and financially most risky type of megaproject [s] that exists", Flyvbjerg and company wrote, "something that many cities and nations have learned to their peril".

The IOC selected the host for the 2028 Olympic Games in a complicated process. "After three failures we are finally bringing the games home". "Together, L.A., Paris and the International Olympic Committee will demonstrate the Games' enduring value to host communities".

The Paris bid committee delegation will fly back on Friday morning with several more celebration activities on the agenda.

"This 11-year agreement with the International Olympic Committee is the ultimate validation of LA 2028's new games for a new era, and Los Angeles' vision for the future", LA 2028 Chairman Casey Wasserman said.

The budget-busting reached its peak with the 2008 Beijing Games for which costs ballooned to a vertiginous 32 billion euros, more than ten times the original budget.Vladimir Andreff, a sports economist at Paris' Sorbonne university, described Olympic budget inflation as "the curse of winning an auction".

"If these terms were presented to me today and I could choose between 2024 and 2028 with the terms we have, I would be derelict in my duty not to choose 2028", Los Angeles Mayor Eric Garcetti told AFP in Lima this week.

Cost overruns have been a constant companion to the Olympics.

Tokyo, the host of the next summer Games in 2020, has also had to fend off allegations of corruption regarding the decision to award it the Games four years ago. The center is estimated to cost about $123 million and will be paid for by public funds.

Los Angeles 2028 officials also expressed delight at the return of the Olympics to U.S. soil.

Paris, a city that had failed three times previously (1992, 2012, and 2016) to secure the Games, will get it first.

United States track and field star Allyson Felix said she believed the 2028 Olympics would help inspire a new generation of athletes. "I look forward to seeing what this excitement will do for our city, and the region, as we prepare for 2028".

  • Leroy Wright