Los Angeles confirmed as hosts of 2028 Olympic Games

IOC Awards Paris 2024 Los Angeles 2028 Olympics

International Olympic Committee celebrations in Lima, Peru, and in France as Paris is confirmed as the 2024 Games host.

Many host cities, including Athens 2004 and Rio de Janeiro previous year, struggled to get ready in time for the Olympics and had to race to complete the venues, leading to higher costs and allegations of corruption in awarding contracts quickly. Paris 2024 bid co-chair Tony Estanguet said: "Paris 2024 is made for sharing".

Paris 2024 and Los Angeles 2028 was ratified in the Peruvian capital Lima on Wednesday.

Los Angeles then dropped its bid for the 2024 Olympics, for which it had been campaigning for over two years, in return for receiving the 2028 edition.

"Now, I know what you're thinking. these LA guys seem pretty laid back", Wasserman said.

The London 2012 Games raised about $1.1 billion, while Rio de Janeiro in 2016 had claimed it had slightly surpassed London, but final accounts are sketchy given the current investigations for corruption linked to Olympic Games projects in Brazil.

Larry Probst, U.S. Olympic Committee chairman of the board, came the closest to any negative tone when he said: "It has been a formidable journey to get here, but we never gave up hope or confidence in our ability to support and advance the Olympic Movement".

Paris will site events across iconic venues, and will build an Olympic Village along the Seine River at Saint-Denis. The town is setting up television screens in a hall, instead, so Saint-Denis residents can watch the International Olympic Committee meeting in Lima, Peru. The Olympics are all but in the bag.

The two cities are getting the hosting rights without the usual dramatic vote.

Paris last hosted the games in 1924.

L.A. 2028 Chairman Casey Wasserman said: "This 11-year agreement with the International Olympic Committee is the ultimate validation of L.A. 2028's New Games for a New Era, and Los Angeles' vision for the future".

The IOC decided in July to award both Games at the same time, following the withdrawal of four of the six cities bidding for the 2024 Olympics, amid concerns about the size, cost and complexity of organizing the world's biggest multi-sports event.

With both Paris and Los Angeles rated a "10" by IOC Evaluation Commission Chair Patrick Baumann after visits to the cities in May, Bach seized on the opportunity and proposed and engineered the tripartite deal that will secure "stability" for the Games for the next decade.

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