Los Angeles has turned a profit on Olympiad 84. 2028 games may appear

Los Angeles got a rare achievement in 1984: The city made a profit in the Summer Olympic Games. This may not be easy in 2028. This may come in a bad time for the city.

The financial observer, in a recent letter to Mayor Karen Bass and the city council, wrote: “Los Angeles, from a financial point of view, we are in trouble.” It adds less revenues and increased spending to up to $ 140 million expected for the current fiscal year, and an additional decrease of $ 73 million next year.

Los Angeles “Over spending” is $ 300 millionMega books. An official in the high city budget recently estimated this The budget deficiency may reach one billion dollars In its next financial year. Last week, the state lawmakers requested another $ 1.9 billion In financing, after receiving $ 2.5 billion, to help the city’s recovery efforts from forest fires in January.

La28, the non -profit company that organizes 2028 games, has a 6.9 billion dollars budget Funding from corporate care, licensing agreements, and a great contribution from the International Olympic Committee. The budget covers expenses such as renting sports arenas, employee costs, as well as housing athletes.

But if mathematics in the Olympic Games budget does not add just as it is planned, it can let the taxpayers pay part of the draft law, and the Angelus and its Olympic Games Committee are familiar with the risks of exceeding cost estimates. In 2019, La28 budget has been increased By $ 1.36 billion. if La28 budget It still does not prove that it is sufficient, the city of Los Angeles will be responsible for the financing of the next $ 270 million. After that, the California government will be responsible for the next $ 270 million – with the next 270 million dollars after it became the financial burden in Los Angeles again.

The host cities for the Olympics have a long history of financial failure

if Modern history It is any indicator, it is fair to worry that the 2028 summer Olympic Games will exceed the budget. In the past sixty years of host cities, almost no of them was profitable or left in the budget.

Sydney 2000 Olympic Games in Australia ended 90 % after spent more than $ 5 billion. The 2004 Olympic Games ended with approximately 50 % of the budget, reaching $ 3 billion, due to the abuses and the increase in debt. the 2016 Summer Olympic Games Rio de Janeiro cost $ 20 billion. The Olympic Games were so profitable that when London erupted even with the 2012 summer games, some were judged by some success.

Miles Osjoud, a professor at Stanford University and a researcher Olympics, says the Los Angeles organizers, who suffer from lessons from 1984, have made responsible budget plans that put the city in a financial feature in games, compared to the last host cities. As in 1984, Los Angeles plans to use sites and structures already, providing costs related to new construction. Use of existing places It is expected to save More than 150 million dollars.

But more 200 million dollars profit Los Angeles was born the last time the games hosted in 1984 fell amid very different circumstances today. Specifically, games are much larger in size. Los Angeles will host 36 Olympic sport in 2028, instead of 21 years. In 1984, he was there 221 events and 6,829 athletes. In 2028, there will be there 800 event with 15,000 athletes. Osjoud said that the largest numbers doubled the related costs (for example security, transportation, employees and rooms in the Olympic Village) “this breakfast is one of these basic numbers.”

Even before forest fires presented a financial challenge and unexpected infrastructure in Los Angeles, the city was home to great feelings to combat the Olympic. Osjoud noticed that Los Angeles is a pivotal in the “Nolympics” campaign, a movement Among other things, the housing crisis and the lack of local democracy are interested in planning games. It has sought to expose the bad deals you always make when welcoming the Olympics, and the group has been an audio around the 2028 games since the forest fires.

Despite the criticism, Los Angeles is confident that the games will judge them. Paul Kreikorian, head of the Los Angeles City Council, recently The New York Times was told“I think 2028 games will benefit Los Angeles for future generations.”

For many residents who still pick up parts of life in the wake of home losses, the typical spirit associated with the host of the Olympics may not pick up their mood in the traditional proud way. “In 2028, when the entire neighborhoods still remove ash, the Olympic flame will not be a welcome symbol,” Osjoud said. “You can easily imagine how to follow the Los Angeles Olympic logo,” Follow the Sun “, where the demonstrators make calls, instead, to follow the money.”

Forest fires in mid -Jan 18,000 structures were destroyed.

It is estimated that the recent forest fires will cost About 40 billion dollars In secure losses.

From the perspective of infrastructure, forest fires should not be a problem. None of the 2028 Olympic Games was appointed to hosts due to fires. UCLA, which was appointed to serve as athletes in the Olympic Village, has emerged former. Experts say it is possible that it is still a place for many athletes who attended the 2028 games.

But Mega recently said that the financial stress of the city could not have come in a worse time in view of the forest fires. “We have moved from record levels of public fund reserves 18 months ago to the brink of the need to announce an” financial state “official”. ” “This additional pressure on the budget comes at the top of the growing responsibilities to prepare for the Olympic Games and the handicapped in 2028.”

While forest fires are not uncommon in California, the size of the destruction of homes, businesses and public infrastructure is usually higher than the Los Angeles region, according to Matthew Borbank, a professor of Utah University who has worked widely in the urban policy of the Olympics.

It may take several years to rebuilding Los Angeles, but Borbank said that he does not expect forest fires to have a direct impact on the layout of the Olympic Games, or any currently dedicated money to redirect the games from the Olympic toys to relief. “Most likely, the city’s approach to setting a budget to overcome costs is the hope that it does not happen, and if they do so, then the city will have to know how to pay these costs,” he said.

But he added that there is no denial of the reconstruction efforts in the multi -year reconstruction on the general financial situation.

“There may be permanent effects on state budgets and local government that will continue in 2028 and beyond,” he said.

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