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Discovery Communications President thrilled as Paris brings 2024 Olympics to Europe

It was announced Monday, July 31, 2017, that Los Angeles has reached an agreement with worldwide Olympic leaders that will open the way for the city to host the 2028 Summer Games, while ceding the 2024 Games to rival Paris.While France’s social media lit up with joy, 9,500 km away in Los Angeles, the city was alive with excitement in anticipation of hosting its third Olympic extravaganza, reports Xinhua news agency.”The proposed 2024 Olympic Games in Europe is a huge win for hundreds of millions of people and thousands of athletes across Europe, as well as advertisers and distribution partners, all of whom will benefit from an Olympic Games on home soil”.The French capital insisted it only wanted to host the Games in 2024, on the 100th anniversary of the city’s 1924 Olympics, prompting Los Angeles to soften its stance and consider hosting the 2028 Games.Seventy percent of those reached by LMU said they would likely attend 2028 Olympic events, while 21 percent said they would leave town.The cities were the only two candidates remaining in a 2024 race which originally featured five potential hosts, with IOC President Thomas Bach masterminding a deal which will now see both given a Games each.French President Emmanuel Macron has been vocal in support the Paris bid, while the Los Angeles bid team said US President Donald Trump “has been personally involved to make LA’s bid a truly American bid”. “A city that has always been a Games changer and will be again in 2028″. The IOC has agreed to hand over a $180m interest-free loan immediately, which is expected to cover the costs of the Los Angeles organising committee for an additional four years, as well as fund youth sports initiatives in the city.Garcetti said that if all goes according to plan, LA is confident it will receive 100 percent support by International Olympic Committee members in Lima for a bid that relies largely on existing infrastructure and features iconic venues such as the Memorial Coliseum – slated once again to host athletics.While it certainly appears the L.A. area has succeeded in its efforts to bring the Summer Olympic Games here for the third time, leaders of the bid have work to do to assure residents that this will be good for the region. (Paris will get 2024.) The deal would have the International Olympic Committee pay L.A.at least $1.8 billion and more than the usual percentage of any profits, one reason the region could make out financially. The IOC vote is scheduled for September, in Lima, Peru.Uncomfortably for IOC President Thomas Bach, whose much-vaunted Agenda 2020 reforms were created to make hosting more streamlined and less costly after the lavish 2014 Sochi Games, the first withdrawal came from his homeland of Germany. Hamburg, Budapest and Rome also pulled out of the race. Bach floated the idea in December of making revisions to the bidding process to prevent it producing “too many losers”, building support that led to LA and Paris being able to figure out themselves how to share the 2024 and 2028 Games.