City Councilman Paul Krekorian has suggested that the State should consider upping its contribution because of inflation given the later time frame.

“It occurs to me that as we’re talking to the Legislature, perhaps we should discuss with them a similar increase because of the additional cost,” Krekorian aid.

A Los Angeles City Council vote to confirm their support for 2028 is thought possible within the next week even if a final budget or independent evaluation has still not happened.

A special meeting of the Ad Hoc Committee of the Summer Olympics is due to take place on Friday (August 11).

The California city will receive concessions from the IOC for hosting the later event.

This includes receiving $1.8 billion contribution has the potential to exceed $2 billion according to the evaluation of the Los Angeles Bid Committee when taking into account the estimated value of existing sponsor agreements to be renewed and potential new marketing deals.

Los Angeles will also be exempt from other payments and will retain the option of selling domestic sponsorship in categories not covered by the IOC.

It will also be allowed to keep all surplus profit that it makes.

By Nick Butler