Los Angeles Mayor Eric Garcetti signed the "host city contract" immediately after the International Olympic Committee vote, promising the city government will serve as a financial backstop to pay off any debts should the estimated $5.3-billion sporting event run over budget, according to the Los Angeles Times.
Paris is set to take its place alongside London as the only three-time hosts of the Summer Games in 2024. "The Commission equally concludes that the many opportunities presented by an Olympic Games 2028 in Los Angeles would far outweigh any potential risks of awarding the Games 11 years in advance instead of 7 years".
Paris Mayor Anne Hidalgo, center, speaks with Los Angeles Mayor Eric Garrett, right, and Los Angeles International Olympic Committee member Anita DeFrantz, left, at the end of the IOC session in Lima, Peru, Wednesday, Sept. 13, 2017.
The IOC President, Thomas Bach said the votes for both cities were "unanimous".More news: At least three hurt in shooting at high school in Washington state
"We all look forward to a spectacular Games in your lovely city", Blackmun added, before crediting L.A. Mayor Eric Garcetti and L.A. 2028 Chairman Casey Wasserman for making the California city's bid an attractive one to the IOC.
It marked the final act of a campaign that had been stripped of the usual intrigue ever since Paris and Los Angeles agreed to carve up 2024 and 2028 in July following encouragement from the IOC.
Their subsequent report noted that LA 2028's Games Concept remains virtually unchanged from the 2024 plan, thanks to the bid's use of Los Angeles' world class existing sports infrastructure.
"These are two great cities from two great countries with a great Olympic history".More news: Israel endorses an independent Kurdish state
Tokyo will host the next Olympic Games in 2020. The IOC chose to award two games at the same time, and LA later abandoned its bid for 2024 during negotiations with the IOC and Paris. "A hundred years after 1924 we are bringing the Games back to Paris".
The smooth finish to the race also eliminates the risk of the vote being tainted by the sort of scandal that has embroiled the ballot for the 2016 Olympics.
"The Olympic Games is WBSC's first priority. Both cities are very enthusiastic about the Games and are promoting the Olympic spirit in a fantastic way", Bach added.
The 2024 Olympics will be hosted by Paris, which had lost to other cities in previous bids.More news: Federation Internationale de Football Association 18 demo released
"Few governments want to risk the billions in cost overruns that have become synonymous with recent Olympics".