Los Angeles 2024 have today revealed a proposed budget of $5.3 billion (£4.2 billion/€5 billion) should they be successful with their bid for the Olympic and Paralympic Games, which they claim is a “balanced and realistic” figure.
The announcement confirms the Bid Committee has abandoned the standard practice of having separate operational and infrastructure budgets after insidethegames exclusively revealed that would be the case last month.
Los Angeles 2024 insist the budget, which also features a $491.9 million (£389 million/€461.1 million) contigency, offers “no surprises” for the City of Los Angeles and the Olympic Movement based on “realistic revenue projections and a low-risk Games Concept”.
It is fully financed through a number of factors, including the contribution from the International Olympic Committee (IOC), domestic sponsorship, ticket sales, licencing and merchandising and other revenues.
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