Description: Los Angeles, Budapest, and Paris are competing to host the 2024 Olympic and Paralympic Games. The International Olympic Committee will choose the winning city in September 2017. Both the state and the City of Los Angeles are already planning in case the Games return to Southern California. Earlier this year, the Legislature passed a bill to provide state support for Los Angeles' bid. Under that bill, the Governor is allowed to negotiate a contract with Games organizers for the state to provide no more than $250 million of back-up financial support if the 2024 Los Angeles Olympics end with a financial shortfall. The current Los Angeles bid greatly reduces the risk of shortfalls by relying on existing facilities, thereby minimizing the risk of large cost overruns that have plagued many prior Olympic hosts. We advise the Legislature, through its oversight process, to help Games organizers keep costs and financial risks as low as possible. This report notes issues that the state may need to consider as planning for the Games proceeds.
Also see our March 23, 2017 report Update on Los Angeles’ Bid for the 2024 Olympics.