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2028 Los Angeles Olympics revised budget nearly $7 billion

1 year 4 months 3 weeks ago Tuesday, April 30 2019 Apr 30, 2019 April 30, 2019 8:27 AM April 30, 2019 in News
Source: Associated Press

The price tag on the Los Angeles 2028 Olympics is now $6.88 billion, a $1.36 billion increase that comes mainly because of accounting measures designed to better reflect inflation over the long lead-up to those games.

Most key numbers the organizing committee released Tuesday are essentially the same as those submitted in the original bid documents, only adjusted from 2016 dollars to reflect the real value of the dollars at the time they'll be received or spent. That includes the cost of venue infrastructure (increase from $1.19 billion to $1.46 billion) and the contingency fund being guaranteed by the city and state ($487 million to $615 million).

If LA makes its budget, it will become the first host in the modern era to do so. Next year's Olympics in Tokyo were originally budgeted at $7.3 billion but are now expected to run $12.6 billion

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