MOSCOW, July 31 (Sputnik) — "In line with Olympic Agenda 2020, the IOC is pleased to release today the Host City Contract 2028 following the declaration of candidature by the Los Angeles Olympic and Paralympic Candidature Committee for the Olympic Games 2028," the IOC said in a statement osted on its website.
According to the statement, the IOC will contribute $1.8 billion to the local Organizing Committee.
Participants of the 130th Session of the IOC in Lausanne unanimously approved on July 11 a proposal to have both 2024 and 2028 games awarded together at the organization's main annual meeting in Peru in September.
With no other candidates in the running, Paris and Los Angeles were expected to reach an agreement with the IOC on which city will host which Games.
