LA 2024 releases revised budget for Olympics, revenue to equal $5.3 billion in costs – Los Angeles Times

The private bid committee seeking to bring the Olympics back to Southern California for a third time has released a new budget estimating it would spend $5.3 billion to stage the Games.

The total exceeds the initial $4.6 billion estimate included in LA 2024’s original budget from the summer of 2015. However, that budget also had $1.7 billion in costs not tied to the local organizing committee, bringing the total even higher.

The new budget does not include any of those added costs.

Projected costs have risen across the board in categories such as venue infrastructure and workforce expenses. The new budget also includes an increased contingency, setting aside $491 million to cover any cost overruns.

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