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Los Angeles City Council backs 2028 Olympic bid

From Reuters - August 12, 2017

LOS ANGELES (Reuters) - The Los Angeles City Council on Friday voted unanimously to authorize the city to sign a contract with the International Olympic Committee (IOC) to host the 2028 Summer Games.

The contract gives the city a greater share of any financial surplus from the Games and includes an IOC contribution of $2 billion but also leaves Los Angeles to cover any cost overruns associated with the $5.3 billion sporting event.

"This opportunity is too great, we cannot pass it up," Los Angeles City Council President Herb Wesson said before the vote.

"Who knows what the future holds but I have faith in you and this body that if anything comes up we will make the necessary adjustments to make this the most successful Games in the history of the Olympics."

Despite the 12-0 council vote, dozens of protesters opposed to the agreement shouted anti-Games slogans during the meeting and at the news conference afterwards.

"We are really disappointed in today's result," said Steve Ducey, a spokesman for the 'No Olympics Los Angeles Coalition', citing the city's problems with homelessness, which has risen 23 percent in the past year according to the latest city data.

"Fifty-five thousand people on the streets of LA County every night and the Olympic Games is not going to fix that. And historically it makes that situation significantly worse," he added.

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