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Published: Fri, September 15, 2017
Sport | By Billy Aguilar

Paris Celebrates 2024 Olympics Bid Win

Paris Celebrates 2024 Olympics Bid Win

"This historic double allocation is a'win-win-win' situation for the city of Paris, the city of Los Angeles and the IOC", said IOC President Thomas Bach following the vote to approve the decision.

Los Angeles Mayor Eric Garcetti signed the "host city contract" immediately after the International Olympic Committee vote, promising the city government will serve as a financial backstop to pay off any debts should the estimated $5.3-billion sporting event run over budget, according to the Los Angeles Times.

LA, meanwhile, gets the certainty of a Games without a bidding contest and early access to at least £1.8billion in shared revenue to kick-start its legacy plans 11 years early.

International Olympic Committee members raised their hands as International Olympic Committee president Thomas Bach had the two mayors, Anne Hidalgo of Paris and LA's Eric Garcetti, standing next to him - and then handed them the cards "Paris 2024" and "Los Angeles 2028" typically used to announce host cities.

The IOC selected Tokyo to host the next Summer Olympics, in 2020.

The Olympic body, however, was eager to secure the future of its prime product after Boston, Budapest, Rome and Hamburg all pulled the plug on their 2024 bids mid-race.

Bid chairman Casey Wasserman said the wardrobe "reflects who we are, and the unique brand of California-cool that we will bring to the 2028 Games". "Today we modelled that dreams can come true for two cities", he said.

After the announcement, representatives from the two host cities, the IOC and President Bach signed official contracts for the Olympic Games, respectively.

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"The Olympic Games is WBSC's first priority". LA 2028 will require no new permanent venues to stage the Games. In all, the projected cost of new venues and upgrades to others is $892 million. Beach volleyball will be played near the Eiffel Tower; cycling will finish at the Arc de Triomphe; equestrian will be held at the Chateau de Versailles.

It marked the final act of a campaign that had been stripped of the usual intrigue ever since Paris and Los Angeles agreed to carve up 2024 and 2028 in July following encouragement from the IOC. The city points to its Olympic legacy to explain a almost unheard-of 83 percent approval rating in a self-commissioned poll - not an insignificant factor when the IOC picks a place to hold its crown-jewel event. After LA declared its candidacy for the 2028 Olympic and Paralympic Games on July 31, the IOC Evaluation Commission compiled a supplementary analysis following further consultations with LA 2028 bid leaders and subject matter experts, and further written submissions.

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