The Wall Street Journal: Olympic hosting deal: Paris in 2024, Los Angeles in 2028

Officials in Los Angeles and leaders of the International Olympic Committee have reached a deal to bring the Summer Games to Southern California in 2028.

The deal comes after months of discussions between the two parties and will not be official until a vote by the IOC in September, which is considered a formality at this point. The talks moved forward after L.A. officials and the U.S. Olympic Committee signaled they would step back from the race against Paris for the 2024 Games in exchange for securing hosting rights for 2028.

Officials scheduled a news conference for late afternoon Monday in Los Angeles to announce the agreement. Talks between the parties accelerated in early July, after the full membership of the IOC approved a plan to award the 2024 and 2028 Games simultaneously at its upcoming meeting in September.

The IOC usually awards hosting rights to the Olympics seven years ahead of the Games. However, IOC President Thomas Bach didn’t want to lose either Paris or Los Angeles as a potential host city. Both cities and their respective national Olympic committees had indicated they were unlikely to bid again if they lost the current campaign.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

Scaramucci removed as White House communications director at Kelly’s urging.

U.S. companies post profit growth not seen in six years.

Filed in: Top News Tags: 

You might like:

Market Extra: Here’s why stock-market investors are focused on a 3% 10-year Treasury yield Market Extra: Here’s why stock-market investors are focused on a 3% 10-year Treasury yield
NewsWatch: What it means for the market that the U.S. 10-year government bond yield hit 3% NewsWatch: What it means for the market that the U.S. 10-year government bond yield hit 3%
The Wall Street Journal: Weinstein Co. executives cashed in ahead of bankruptcy filing, records show The Wall Street Journal: Weinstein Co. executives cashed in ahead of bankruptcy filing, records show
A rules-based trading strategy will keep investors from losing their shirts this year A rules-based trading strategy will keep investors from losing their shirts this year
CryptoWatch: Bitcoin breaks through $9,000 level and 100-day moving average CryptoWatch: Bitcoin breaks through $9,000 level and 100-day moving average
Market Extra: Stock-market bulls lose hope as indexes trade in a tight range Market Extra: Stock-market bulls lose hope as indexes trade in a tight range
The Fed: Fed’s new plan would let regional banks reduce their buffers, S&P says The Fed: Fed’s new plan would let regional banks reduce their buffers, S&P says
Market Extra: What it means for the market that the U.S. 10-year government bond yield hit 3% Market Extra: What it means for the market that the U.S. 10-year government bond yield hit 3%

Leave a Reply

Submit Comment
© 2018 Stock Investors News. All rights reserved. XHTML / CSS Valid.