Paris Set to Host 2024 Olympic Games

Paris is virtually assured of hosting the 2024 Summer Olympics after its only rival Los Angeles announced it would now bid solely for the 2028 Games. Both cities were competing for the 2024 Games after several other candidates withdrew from contention, and the stage was set for Paris to win its bid when the International Olympic Committee (IOC) confirmed that Los Angeles had agreed to the later date of 2028, reported ABC.

"The IOC welcomes this decision of the Los Angeles Olympic and Paralympic Candidature Committee, and we are pleased to release the Host City contract 2028 in a transparent and timely manner," IOC president Thomas Bach in a statement.

The agreement follows a vote by the IOC in July to seek an unusual deal to award the 2024 and 2028 Games simultaneously.

The IOC, who will hold its official vote next month in Lima, Peru, said it would make contributions to the Los Angeles organising committee worth about USD 2.2 billion.

Paris and Los Angeles were the last two bids remaining after a tumultuous process that exposed the unwillingness of cities to bear the financial burden of hosting an event that has become synonymous with cost overruns.

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