California Allocates $250 Million for LA 2024 Bid; LA84 Financial Success Cited
California Governor Jerry Brown signed legislation that provides $250 million of state-funded money to Los Angeles’ bid for the 2024 Olympic and Paralympians Games as a guarantee against cost overruns. SB 1465 was signed on September 29.
The LA 2024 bid has a projected $161.1 million, while the 1984 Los Angeles Games was cited in multiple media reports for its $232 million surplus, the most financially successful Games in Olympic history:
Los Angeles Daily News: http://www.dailynews.com/events/20160929/gov-jerry-brown-signs-bill-to-set-aside-250m-for-potential-la-2024-olympics-cost-overruns
Associated Press: http://bigstory.ap.org/article/3b12484bbdb64dc49129624dc108607c/california-governor-approves-250-million-olympics-guarantee
Orange County Register: http://www.ocregister.com/articles/jerry-730541-bid-signed.html