Los Angeles will pay for the Olympics no matter how costly
The mayor of Los Angeles is willing to pick up any cost overruns associated with that city’s Olympic bid, which could pave the way for it to host the first American games since 2002, according to the Los Angeles Times.
Where Boston fell short, L.A. might just succeed. In an interview with the newspaper’s editorial board on Monday, the Mayor Eric Garcetti said a potential Los Angeles bid would be “dead on arrival’’ if it did not include a pledge to cover any cost overruns.
Though Garcetti advocated for fiscal responsibility, the mayor said he’d be willing to sign a contract that would require the city to cover any budgetary shortfalls.
Indeed, a lack of willingness to pick up the tab no matter how high the cost — and the Olympics are notorious for running over budget — is what ultimately dashed Boston’s Olympics dreams earlier this month. Boston Mayor Marty Walsh’s last-minute change of heart about that requirement caused the U.S. Olympic Committee to drop the bid.
If chosen, L.A. will compete with Paris, Rome, Budapest and Hamburg for the games.
“Los Angeles is the ideal Olympic city,’’ Garcetti told the New York Times in an email. “We have endless diversity, attractions and scenic beauty as well as world-class venues that are ready to host the Olympics and make it profitable as it was in 1984 and 1932.’’
The U.S. Olympic committee could select Boston’s replacement by the end of August and submit the new bid by mid-September, according to the Times.
What Boston would have looked like before, during, and after the Games
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