In an era when the Olympics have become synonymous with cost overruns and massive deficits, the private committee seeking to bring the Summer Games back to Southern California has released what it calls a “no-surprises” balanced budget.
LA 2024’s latest proposal, issued on Friday, estimates that it would cost $5.3 billion to stage the mega-sporting event.
Though that number exceeds their initial projection, bid leaders still believe they can cover all expenses with revenue earned from sources such as broadcast rights, corporate sponsorships and ticket sales.
“We have been extremely conservative in our approach,” said Gene Sykes, the committee’s chief executive.
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