June 02--The International Olympic Committee has confirmed that Los Angeles will proceed to the second stage of bidding for the 2024 Summer Games.
The announcement, which emerged from a Thursday meeting of the IOC executive board in Switzerland, came as no big surprise.
Olympic leaders have so far expressed satisfaction with the initial bids from L.A., Paris, Rome and Budapest. All four cities were expected to move forward.
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Still, LA 2024 vice chairwoman Janet Evans said: "We are delighted to have this official confirmation from the IOC."
The private L.A. bid committee has proposed an Olympic budget that could exceed $6 billion. Officials believe that they can pay all costs and generate a $161-million surplus through broadcast rights, sponsorships, ticket sales and other revenue sources.
From here, the bid process that began last fall will proceed with further teleconferences and workshops involving each of the bidding cities.
The IOC membership is scheduled to select a host in September 2017.
