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LA could lose $270M if 2028 Olympics go awry; already faces $1 billion deficit

Los Angeles is scheduled to host the Summer Olympics in 2028, following Paris in 2024.
Los Angeles is currently facing a $1 billion deficit and California's high-speed rail program has a $135 billion budget, raising concerns about the city's financial capacity to host the games.
To minimize costs, the city is attempting a 'no build' approach, even moving canoe slalom and softball events to Oklahoma City, reminiscent of the 1984 Los Angeles Olympics, which profited by minimizing new construction.
The approved Olympics budget is $6.9 billion, but the city of Los Angeles would be responsible for the first $270 million in cost overruns, followed by the state of California, which already faces deficits in the tens of billions.
City Controller Kenneth Mejia, who has warned since 2024 that the city is "broke," questions the city's readiness and has compared Los Angeles unfavorably to Paris, while former mayor Eric Garcetti projected a $1 billion profit from the games, despite the fact that no Summer Olympics has generated a profit since 1984.

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LA could lose $270M if 2028 Olympics go awry; already faces $1 billion deficit

(The Center Square) – The city of Los Angeles could be on the hook for $270 million if the 2028 Olympics are not on budget. With the city already facing a $1 billion deficit and the state infamous for the…

4 days ago

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Just the News

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2028 Olympics could prove to be a costly undertaking for LA: city could be on the hook for $270M

The city of LA could be on the hook for $270 million if the 2028 Olympics are not on budget. With the city already facing a $1 billion deficit, many wonder if the city can handle it.

4 days ago·Washington, United States

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Horse & Hound

‘The LA Olympics are only three years away!’ John Whitaker switches to eventing as he turns 70

John said Filaloor P in action across countryLegendary showjumper John Whitaker is trying his hand at eventing, as he feels it is “about time for a new challenge”. The multiple medal-winning rider turns 70 this year, and he told H&H approaching the milestone made him wonder what else he could achieve. “It was a toss-up between dressage and eventing and I thought dressage wouldn’t be exciting enough,” he said. “Vaulting was also a possibility but…

4 days ago

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