Tuesday , 25 June 2024

Pan-American cooperation for the Los Angeles Olympic Games 2028

The City of Los Angeles, LA 2028 and the United States Olympic Committee released its proposed memorandum of understanding to define its partnership in preparation for the 2028 Olympic and Paralympic Games. If approved by the Los Angeles City Council, this new MOU would enhance the strong provisions that were developed to protect the City of Los Angeles from financial risk when it was a candidate to host the Games in 2024.

The new MOU provides City representation on the LA 2028 Board of Directors, gives the City consent rights over significant venue changes within the City of Los Angeles and $270 million of the projected $500 million Games budget contingency (an increase from $250 million), requires new, more frequent LA 2028 presentations and updates to the City Council in the first three years, invites additional City participation in developing LA 2028’s overall insurance and risk management strategy, requires LA 2028 to acquire additional insurance and newly requires an independent review of the LA 2028’s Games budget, which is to be paid for by LA 2028.

Check Also

Special Olympics Hellas Memorandum of Understanding with the Ministry of Education

Special Olympics

Leave a Reply

Your email address will not be published. Required fields are marked *