Opinion: Will the Olympic Games be as costly for L.A. as they are for Paris? (via latimesopinion )
the Paris 2024 headquarters. Labor discontents and controversies could boil over into disruptions magnified by the Olympic spotlight.
As for L.A., it’s too early to tell whether the city will match Paris in succumbing to the Games’ curses. But the terms of the agreement between the city and the IOC don’t bode well.The Los Angeles City Council voted 11-2 to approve an agreement with LA 2028 to host the Olympics. A lot of Angelenos remember the 1984 L.A. Games, when the Olympics actually ended with a surplus, the only Summer Games to do so in the last 60 years. Local politicians and voters changed the city charter to ensure that no L.A. taxpayer dollars would go to backstopping the Games.to financially step up should any cost overruns accrue. Los Angeles is pledged to cover the first $270 million, and the state will cover the next $270 million. After that, the city is responsible for additional costs.
“at an average of 172 percent in real terms, the highest overrun on record for any type of megaproject,” such as highways and dams. Even the ’84 Games busted its initial budget. Domestic sponsorships are meant to offset the city’s 2028 financial risks. Rick Burton, a former chief marketing officer for the U.S. Olympic Committee,
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
LVMH strikes Paris Olympic Games sponsorship dealLuxury giant LVMH unveiled on Monday a deal to sponsor next year's Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event.
Weiterlesen »
LVMH Signs on as Premium Partner of Paris 2024 Olympic and Paralympic GamesCapping months of speculation, LVMH Moët Hennessy Louis Vuitton on Monday signed on to become a premium partner of the Paris 2024 Olympic and Paralympic Games.
Weiterlesen »
LVMH to Sponsor the 2024 Olympic Games in ParisIt’s official: after months of discussions, LVMH announced today it is sponsoring the Paris 2024 Olympic and Paralympic Games as a premium partner, the highest level.
Weiterlesen »
LVMH strikes Paris Olympic Games sponsorship deal | CNNLuxury giant LVMH unveiled a deal to sponsor next year’s Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moët Hennessy champagne and spirits labels and jeweler Chaumet
Weiterlesen »
Canada's athletes to watch in Paris 2024 Olympic GamesA list of 10 Canadian athletes to watch at the 2024 Olympic Games in Paris.
Weiterlesen »