(ATR) The 2024 and 2028 Olympics host city contracts can now be read online.
Continuing the change from keeping the document a secret, the IOC contract for Paris 2024 can be found here.
The contract for Los Angeles to host the 2028 Olympics can be found online here.
Both cities will sign the contracts in Lima Sept. 13 after the IOC vote.
The IOC has also released the signed host city contract for the 2020 Olympics in Tokyo.
The dual allocation of the 2024 and 2028 Olympics coming at the September IOC Session in Lima forced the IOC to draft two hosting contracts.
The publication of the contracts is part of the IOC effort to bring more transparency to the Olympic bid process.
The Los Angeles contract reveals the details over the financial considerations the IOC will make to the city for agreeing to drop the 2024 bid to accept 2028. The IOC estimates it will contribute $1.8 billion in 2028 dollars to the Games, but says that figure could rise from new and renewed worldwide Olympic sponsors. Estimates put the increase of one category at $200 million. Details of the $160 million interest free loan to assist with the extra four years of operation for the LA organizing committee are included.
Regarding the sports program, the IOC says it will be confirmed no later than seven years before the 2024 and 2028 Olympics. Events will be confirmed three years before. Any extra sports that Paris or Los Angeles would like to propose for inclusion in the Games must be done before the final three years of preparations.
Written by Aaron Bauer
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