Olympics: Garcetti says LA will rake in $1 billion profit from 2028 Games

The 2028 Summer Games will see host city Los Angeles record a profit of at least...

LOS ANGELES - The 2028 Summer Games will see host city Los Angeles record a profit of at least $1 billion, mayor Eric Garcetti told a sports summit on Monday.

Garcetti said utilizing the city’s existing sports venues would keep costs down while ticket and sponsorship sales would top current projections to help Los Angeles avoid the pitfalls that have left some other host cities in debt. “We’ve had cities scared to bid for the Olympics because they cost so much and because people build so much infrastructure for two and a half weeks.Speaking to Reuters on the sidelines of the LA Sports Summit, Garcetti also said that seeing the deals Tokyo 2020 organizers had been able sign for sponsorships for next year’s Games had made him even more bullish on his city’s prospects.

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