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Los Angeles City Council backs 2028 Olympic bid
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12 Aug 2017 03:20 AM EST

The Los Angeles City Council on Friday voted unanimously to authorize the city to host the 2028 Summer Games. The contract gives the city a greater share of any financial surplus from the Games and includes a contribution of $2 billion. That still leaves Los Angeles with any cost overruns associated with the $5.3 billion sporting event. Under the agreement, LA 2028, the committee behind the city's Olympic campaign, will invest up to $160 million to increase youth sports programs in the city during the 11 year run-up to the Games.

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