LOS ANGELES (AP) – If the city of Los Angeles becomes the U.S. candidate for the 2024 Olympics after Boston’s recent drop from contention, the organizers’ proposed budget for the Summer Games would be $4.1 billion plus a $400 million contingency, a senior adviser to Mayor Eric Garcetti said Monday.
The sum includes $200 million to cover city expenses, Jeff Millman said.
The city’s projection anticipates revenues far in excess of $4.5 billion and a significant profit, Millman said.
The budget would not come from city funding, but would instead come to the Los Angeles organizing committee from such sources as broadcast revenue, sponsorships and tickets.
Boston had proposed a budget under $5 billion – considered frugal for the Olympics – but still struggled to sell the public on the idea it wouldn’t need major public funding to host the games.