Paris all but certain to host Olympic games in 2024

Los Angeles announced its intent to host the 2028 Olympics this Monday, paving the way for Paris to host in 2024. The deal is hailed as a win-win for both cities and the Olympic movement.

The logo of the Paris candidacy for the 2024 Olympics is seen on the Montparnasse tower in this file picture. Reuters/Gonzalo Fuentes

Los Angeles had been in a race with Paris to follow Tokyo 2020 as the 2024 host with the winner to be named by the IOC on 13 September in Lima.

But the possibility that Los Angeles would abandon a 2024 bid and instead accept the 2028 Games has been growing since the IOC decided in July that it would attempt to award both Games at its Lima meeting.

Paris had remained insistent on hosting in 2024, on the 100th anniversary of the city's 1924 Olympics.

LA officials, who had put forward a 5 billion euro bid for 2024, said an agreement had been reached with the IOC on financial considerations that would make waiting an extra four years feasible.

The deal will bring the Games back to Los Angeles for a third time, after the city hosted in 1932 and 1984.

The agreement must still be approved by the Los Angeles City Council and the United States Olympic Committee -- both of which backed the 2024 bid.

Garcetti said that if all goes according to plan, LA is confident it will receive 100 percent support by IOC members in Lima for a bid that relies largely on existing infrastructure and features iconic venus such as the Memorial Coliseum -- slated once again to host athletics.

IOC president Thomas Bach also said he was confident any remaining hurdles could be cleared.

The LA agreement means that Paris is all but certain to host the games in 2024.

The French capital will also be hosting the Games for a third time, endured the disappointment of failed bids in 1992, 2008 and 2012.

#France is ready to share our amazing #Paris2024 vision with the world | ???????? is #ReadyFor24 #RoadToLima #MadeForSharing pic.twitter.com/WZ43hh9XFo

  Paris 2024 (@Paris2024) July 31, 2017

Paris Mayor Anne Hidalgo said on Twitter: "Happy that my friend @MayorofLA has made an important new step on an agreement that will have three winners: Paris, Los Angeles and the IOC #Paris2024."

Meanwhile French President Emmanuel Macron hailed Los Angeles' announcement that it intends to host the 2028 Olympics as a "very important step" towards Paris hosting the 2024 version.