Los Angeles’ roller coaster campaign to host the Olympics for a third time — an effort marked by early defeat and last-second negotiations — reached a conclusion Wednesday when the city was formally awarded the 2028 Summer Games.

International Olympic Committee members voted their approval with a show of hands at a session in Lima, Peru, ending an unusual bid competition that resulted in two winners, with Paris simultaneously awarded the 2024 Games.

“Like anything worth fighting for, this was a long journey,” Mayor Eric Garcetti said. “Little by little, we got a victory.”

After the membership gave the cities a standing ovation, IOC President Thomas Bach added: “It is really this win-win-win situation we were all together looking for.”

Advertisement

Bach and Garcetti sat at a long table where the mayor signed the “host city contract,” obligating L.A. to serve as a financial backstop, paying off any debts should the estimated $5.3-billion sporting event run over budget.

The private LA 2028 bid committee has vowed to control costs by using existing venues such as the Coliseum and Staples Center, as well as the Rams’ stadium currently under construction in Inglewood. Bid leaders have emphasized that the city’s two previous Games, in 1932 and 1984, were financially successful.

This time, they expect to cover all expenses through revenues from broadcast rights, sponsorships, ticket sales and other sources. But critics have noted that previous hosts — including Rio de Janeiro, which staged the 2016 Summer Olympics — had promised to balance their budgets only to come away with large deficits.

“Despite the fact that the IOC has awarded L.A. the bid to host the 2028 Summer Olympics, the fight isn’t over,” a grass-roots group called NOlympics LA said in a statement. “The notion that ‘L.A. is going to have the Olympics, one way or another’ isn’t necessarily true, as many opportunities still exist to intervene and stop them entirely.”

Advertisement

Wednesday’s host-city selection proceeded smoothly with the candidates giving brief presentations before the ratifying vote.

L.A. offered 30 minutes of slickly produced videos interspersed with speakers who thanked each other, thanked the Olympic movement and thanked Paris in the slightly flushed manner that often marks host-city selections.

The women in the Southern California group wore bright pink and yellow. The men were dressed in suits and sneakers, which bid chairman Casey Wasserman — grandson of Lew Wasserman, the late movie mogul — alluded to in his speech.

“Now, I know what you’re thinking. These L.A. guys seem pretty laid back,” Wasserman said. “My grandfather told me the key to success was two simple things: Always be honest, and always stay true to who you are. Well, what you see onstage here today reflects who we are, and the unique brand of California-cool that we will bring to the 2028 Games.”

Sounding a different note, U.S. Olympic Committee chairman Larry Probst spoke of the bid’s ups and downs, saying: “It has been a formidable journey to get here, but we never gave up hope or confidence in our ability to support and advance the Olympic movement.”

L.A.’s campaign appeared to be over in the winter of 2015 when the city lost to Boston in a USOC competition to become America’s sole bidder.

But the Massachusetts capital soon withdrew in the face of public opposition, allowing L.A. to join what eventually became a two-city race with Paris for the 2024 Games.

The competition appeared to be neck-and-neck, then took a dramatic turn with whispers that the IOC might name two winners, giving 2024 to one city and 2028 to the other.

Advertisement

The move made sense if only because there have been so few willing candidates in recent bid cycles. Hamburg, Rome and Budapest had also withdrawn from the 2024 race.

With two viable proposals, Olympic leaders warmed to the idea of locking up summer hosts for the next 11 years. Tokyo is hosting the 2020 Summer Games.

“This way was not usual,” Paris Mayor Anne Hidalgo said. “We invent this new way together.”

The main question was: Which city would agree to take 2028?

From the start, Paris insisted it could not wait. Negotiations between L.A. and the IOC began in earnest in July and within weeks, the deal was done.

In return for going second, L.A. will not have to pay tens of millions in IOC fees and will get a $180-million advance, most of which will go to funding youth programs citywide beginning as soon as next year.

LA 2028 will also receive a larger slice of IOC revenues and will not have to give the IOC a standard 20% of its surplus if the Games run under budget.

The Los Angeles City Council unanimously supported the agreement last month at a session marked by a small but vocal protest.

Advertisement

“When people say costs could run over, I say, ‘For what?’” Garcetti said Wednesday. “For a [Rams] stadium we don’t own? For arenas that are already built and used every day?”

LA 2028 now turns its attention from the stress of bidding to the hard work of organization. Unlike other hosts, it will have more than a decade to prepare.

“What does history feel like?” Garcetti asked. “It feels like this.”

david.wharton@latimes.com

Follow @LAtimesWharton on Twitter

ALSO

What will Los Angeles transportation be like when the Olympics arrive in 2028?

Would an 11-year wait for the Olympics lead to greater risks for L.A.?

Jules Boykoff: The currency of Olympic politics is often just currency</s>(LIMA, Peru) — Paris will host the 2024 Summer Olympics and Los Angeles will stage the 2028 Games — a pre-determined conclusion that the International Olympic Committee has officially ratified in a history-making vote.

The decision Wednesday marks the first time the IOC has granted two Summer Olympics at once. It came after a year's worth of scrambling by IOC president Thomas Bach, who had only the two bidders left for the original prize, 2024, and couldn't bear to see either lose.

Both cities will host their third Olympics.

The Paris Games will come on the 100th anniversary of its last games — a milestone that would have made the French capital the sentimental favorite had only 2024 been up for grabs.

Los Angeles moved to 2028, and will halt a stretch of 32 years without a Summer Games in the United States.</s>LIMA, Peru (AP) — This was one of those rare Olympic moments where everyone walked away a winner.

Paris for 2024. Los Angeles for 2028. And the International Olympic Committee for transforming an unruly bidding process to lock down its future by choosing not one, but two Summer Olympics hosts at the same time.

The IOC put the rubber stamp on a pre-determined conclusion Wednesday, giving Paris the 2024 Games and LA the 2028 Games in a history-making vote.

The decision marks the first time the IOC has granted two Summer Olympics at once. It came after a year’s worth of scrambling by IOC president Thomas Bach, who had only the two bidders left for the original prize, 2024, and couldn’t bear to see either lose.

Both cities will host their third Olympics.

The Paris Games will come on the 100th anniversary of its last turn — a milestone that would have made the French capital the sentimental favorite had only 2024 been up for grabs.

Los Angeles moved to 2028, and those Olympics will halt a stretch of 32 years without a Summer Games in the United States. In exchange for the compromise, LA will grab an extra $300 million or more that could help offset the uncertainties that lie ahead over an 11-year wait instead of seven.

“We’re ready now,” LA mayor Eric Garcetti said, speaking to a city that has virtually every sports venue already in place.

Doing away with the dramatic flair that has accompanied these events in years past, there were no secret ballots and no dramatic reveals to close out the voting.

Bach simply asked for a show of hands, and when dozens shot up from the audience, and nobody raised their hand when he asked for objections, this was deemed a unanimous decision.

A ceremony that has long sparked parties in the plazas of winning cities — and crying in those of the losers — produced more muted, but still visible, shows of emotion. Paris bid organizer Tony Estaguent choked up during the presentation before the vote.

“You can’t imagine what this means to us. To all of us. It’s so strong,” he said.

Later, Paris mayor Anne Hidalgo stood by Bach’s side and dabbed away tears as the vote was announced and the IOC president handed the traditional — but now unneeded — cards to her and Garcetti. One read “Paris 2024,’ and the other “Los Angeles 2028.”

But there was no real drama. As if to accentuate that, the post-vote celebration at the Eiffel Tower was a sparsely attended near rain-out.

Meanwhile, in the Lima exhibition hall, the casual-as-can-be LA delegation wore sneakers to the presentation, and was going to forego neckties, too, before thinking better of it.

Bid chairman Casey Wasserman said the wardrobe “reflects who we are, and the unique brand of California-cool that we will bring to the 2028 Games.”

In this never-before-seen style of selection, Bach asked the 94 IOC members to allow the real contests to play out at the Olympics themselves and transform the vote from a game of sorts into a pure business decision.

It wasn’t such a bad idea considering the news still seeping out about a bid scandal involving a Brazilian IOC member’s alleged vote-selling to bring the 2016 Olympics to Rio de Janeiro.

More than that, Bach needed to ensure stability for his brand.

The public in many cities, especially those in the Western democracies that have hosted the majority of these games, is no longer eager to approve blank checks for bid committees and governments that have to come up with the millions simply to bid for the Olympics, then billions more to stage them if they win.

That reality hit hard when three of the original five bidders for 2024 — Rome, Hamburg, Germany, and Budapest, Hungary — dropped out, and the U.S. Olympic Committee had to pull the plug on its initial candidate, Boston, due to lack of public support.

“This is a solution to an awkward problem,” said longtime IOC member Dick Pound of Canada. “Many of the (candidate) cities are not prepared. They say, ‘Let’s have an Olympics,’ but they haven’t done the background work, checked the finances. But I guess we have to share it and say, ‘Have you done A, B, C, and D?'”

Only two candidates checked all the boxes — Paris and Los Angeles, each with a storied tradition of Olympic hosting and an apparent understanding of Bach’s much-touted reform package, known as Agenda 2020. It seeks to streamline the Games, most notably by eliminating billion-dollar stadiums and infrastructure projects that have been underused, if used at all, once the Olympics leave town.

Paris will have the traditional seven-year time frame to answer that.

Only one totally new venue is planned — a swimming and diving arena to be built near the Stade de France, which will serve as the Olympic stadium. Roland Garros, which will host tennis and boxing, will get a privately funded expansion. In all, the projected cost of new venues and upgrades to others is $892 million.

To be sure, Paris already has much to work with. Beach volleyball will be played near the Eiffel Tower; cycling will finish at the Arc de Triomphe; equestrian will be held at the Chateau de Versailles. And what would an Olympics be without some water-quality issues? There will be pressure to clean up the River Seine, which is where open-water and triathlon will be held.

Los Angeles, meanwhile, will get an extra four years that Garcetti insists is hardly needed. Los Angeles proposed a $5.3 billion budget for 2024 (to be adjusted for 2028) that included infrastructure, operational costs — everything. A big number, indeed, though it must be put into perspective: Earlier this summer, organizers in Tokyo estimated their cost for the 2020 Games at $12.6 billion. The London Games in 2012 came in at $19 billion.

Traffic could be a problem — it almost always is in LA — but the city will be well along in its multi-decade, multibillion-dollar transit upgrade by 2028, and those with long memories recall free-flowing highways the last time the Olympics came to town, as locals either left the city or heeded warnings to use public transportation or stay home.

Those 1984 Games essentially saved the Olympic movement after a decade of terror, red ink and a boycott sullied the brand and made hosting a burden. The city points to its Olympic legacy to explain a nearly unheard-of 83 percent approval rating in a self-commissioned poll — not an insignificant factor when the IOC picks a place to hold its crown-jewel event.

Along with Paris, LA is stepping in again to try to change the conversation about what hosting the Olympics can really be.

“It’s a unique opportunity to do two at the same time,” Wasserman said. “Hopefully, it’s an interesting paradigm for the world going forward. We’re two great cities, it’s two great Olympic hosts and it’s going to be two great games.”</s>The International Olympic Committee has officially selected the host cities for both of the next two Summer Olympics, naming Paris to host 2024 and Los Angeles to host 2028.

That confirms what seemed more and more apparent this summer as the two cities vied against one another in the bid process for the 2024 Games. While a number of major cities dropped out of the bidding (including the original United States bid city, Boston), Paris and L.A. emerged as the frontrunners. But as the race heated up, rumblings around the process began to suggest the IOC was interested in awarding each city with an Olympic Games, deciding on a 2028 host more than a decade out.

Paris’s bid, in general, was focused only on 2024 and not interested in hosting four years later. So when Los Angeles agreed to host the 2028 Games back in July, it seemed all but settled that Paris would get the first crack in 2024, followed by L.A. four years later.

Today’s IOC decision officially confirms that. It’s the first time the IOC has awarded two bids at once.

It will be the third time for each city hosting the Olympic Games. Paris was uniquely interested in 2024 as that marks the 100th anniversary of the last time Paris hosted the Olympics. Paris hosted in 1900 and then again in 1924 before a lengthy layoff.

Los Angeles hosted the 1932 Olympics, and then hosted again in 1984. They’ll be the first Summer Olympic host in North America since Atlanta in 1996.</s>Lima, Peru: The International Olympic Committee named Paris and Los Angeles as hosts for the 2024 and 2028 Olympics on Wednesday, crowning two cities at the same time in a historic first for the embattled sports body.

Loud applause rang out at the Lima Convention Centre shortly after the IOC membership voted to approve a deal hashed out in July which arranged for Paris to be given 2024 and Los Angeles 2028.

Paris and Los Angeles bid leaders joined International Olympic Committee President Thomas Bach on stage as the award was confirmed, embracing after an outcome hailed as a "win-win-win" by the IOC.

Both Paris and Los Angeles made final presentations to IOC delegates before the formality of the rubber-stamp vote was taken.

"You can't imagine what this means to us, incredible, so strong," Paris 2024 co-chairman Tony Estanguet told delegates shortly before the vote.

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.

Paris 2024 officials hugged and cheered following the vote, basking in victory after three previous failed bids to land the 1992, 2008 and 2012 Olympics.

The 2024 Games will mark the third time Paris has staged the Olympics, coming exactly 100 years after they last hosted the Games.

Los Angeles 2028 officials also celebrated the return of the Olympics to US soil.

The 2028 Olympics will be the first held in the United States since the chaotic 1996 Games in Atlanta.

It will also mark the third time that Los Angeles has hosted the Olympics following successful editions in 1932 and 1984.

"Los Angeles reflects the face of America's future and the heart of American values of inclusiveness, generosity and unity," Los Angeles mayor Eric Garcetti said during his final pitch to IOC members.

Paris and Los Angeles emerged from the initial bidding race for the 2024 Games after a number of cities withdrew citing waning public support and concerns over budget.

Hamburg, Rome, Budapest and Boston all fell by the wayside during the competition, reflecting the political difficulties in persuading voters that staging the Olympics is worth the multi-billion-dollar price tag.

IOC chief Bach first signalled publicly that the double-award of an Olympics could be on the agenda in December last year, lamenting that the bidding process produced "too many losers".

As the tussle for 2024 unfolded, and as the field thinned to leave just Los Angeles and Paris, the IOC's determination to secure two high-quality bids for the next two summer games became apparent.

In July, the IOC announced it would award the staging rights for the 2024 and 2028 Olympics at the same meeting in Lima, laying the way for a swift agreement between the two over the running order.

The drama-free conclusion 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 IOC was left tackling a fresh wave of graft allegations last week when investigators in Brazil swooped on the country's Olympics chief Carlos Nuzman.

Nuzman stands accused of plotting to bribe IOC members into awarding Rio de Janeiro the 2016 Games at a 2009 vote in Copenhagen.

The allegations swirling around Rio's bid revived memories of the Salt Lake City bribery scandal, which led to 20 IOC members being either kicked out of the Olympics' ruling body or pleading guilty to accepting bribes for votes.

French investigators meanwhile have already announced they are investigating the 2013 vote in Buenos Aires which awarded the 2020 Olympics to Tokyo, following reports of secret payments into a Singapore-based bank account linked to the son of disgraced former world athletics chief Lamine Diack.</s>IOC President Thomas Bach next to Mayor of Los Angeles Eric Garcetti ratifies Paris 2024 and Los Angeles 2028 host cities for Olympics games during the 131st IOC session in Lima. ― Reuters picLIMA, Sept 14 ― Paris was awarded the 2024 summer Olympics and Los Angeles the 2028 Games yesterday, as the International Olympic Committee (IOC) broke with decades of tradition to vote on a unique double allocation.

Paris, which has hosted two previous Olympics, will stage the event 100 years after its last Games in 1924 while Los Angeles will also organise its third Games after 1932 and 1984.

IOC President Thomas Bach embraced both cities' mayors on stage after a unanimous show of hands by IOC members ratified the awards.

The announcement was celebrated in Paris with the unveiling of a giant set of interlaced rings, the symbol of the Games, in a heavy downpour on the Trocadero square with lights glittering on the Eiffel Tower in the background.

“In the coming seven years we will prepare the Olympic Games with all our energy,” French President Emmanuel Macron, who had personally campaigned for the bid, said.

“Together we must do everything in our power to ensure that Paris hosts a magnificent games in 2024.”

The IOC decided in July to award both Games at the same time, following the withdrawal of four of the six cities bidding for the 2024 Olympics, amid concerns about the size, cost and complexity of organising the world's biggest multi-sports event.

Los Angeles then dropped its bid for the 2024 Olympics, for which it had been campaigning for over two years, in return for receiving the 2028 edition. This paved the way for Paris as the sole 2024 bidder to win the Games unopposed.

“This is a momentous day for the people of Los Angeles and the United States,” said LA mayor Eric Garcetti. “For the first time in a generation, we are bringing the Games back to the City of Angels.”

Paris, with a Games budget of €6.8 billion (RM28.52 billion), had failed with previous attempts to land the 1992, 2008 and 2012 Olympics.

The LA Games have a budget of US$5.3 billion and will essentially follow the plan they had in place for 2024, including housing athletes at the UCLA campus.

Both Paris's bid co-chair Tony Estanguet and LA bid chairman Casey Wasserman are to stay on and lead the host cities' preparations, mayors Anne Hidalgo and Garcetti confirmed in a news conference after the announcement.

It is the first time the IOC has awarded a Games 11 years in advance, as it traditionally gives the next Olympic host city seven years to prepare.

The Olympic body, however, was eager to secure the future of its prime product after Boston, Budapest, Rome and Hamburg all pulled the plug on their 2024 bids mid-race.

Bach said the unanimous IOC decision would secure the future of the Games and ensure successful Olympics.

“It is hard to imagine something better. Ensuring the stability of the Olympic Games for the athletes of the world for the next 11 years is something extraordinary,” he said.

Both the 2014 winter Games in Russia's Sochi and the 2016 Rio de Janeiro Olympics were mired in controversy over corruption, embezzlement and doping allegations, dealing a major blow to the reputations of the event and the IOC.

Tokyo, the host of the next summer Games in 2020, has also had to fend off allegations of corruption regarding the decision to award it the Games four years ago. ― Reuters</s>>Lima: Paris and Los Angeles celebrated their coronation as host cities for the 2024 and 2028 Olympics on Wednesday, delivering a jolt of good news for the International Olympic Committee as it battles escalating corruption allegations.

In a drama-free conclusion to a three-year bidding race, IOC members voted unanimously to rubber-stamp a deal hashed out in July for Paris to be given 2024 and Los Angeles 2028.

The pre-ordained outcome did little to dampen celebrations inside the Lima Convention Centre, where Paris and Los Angeles officials cheered and congratulated each other.

IOC President Thomas Bach " a driving force behind the decision to confirm 2024 and 2028 at the same time " hailed the joint award as a "win-win-win."

"It's a magical, unique victory," said jubilant Paris 2024 bid co-leader Tony Estanguet as French President Emmanuel Macron saluted a "victory for France."

"This was the right answer, it was about fraternity, it was about friendship, it was about finding a win-win," Los Angeles Mayor Eric Garcetti told AFP.

IOC chief Bach meanwhile said the Olympic movement had secured the result "we were looking for."

"I couldn't be more happy than I am right now," Bach said. "We have the two best possible games for the Olympics in 2024 and 2028, in two great Olympic countries."

The vote 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 following encouragement from the IOC.

The 2024 Games will mark the third time Paris has staged the Olympics, coming exactly 100 years after they last hosted the Games. Since then, France had made three unsuccessful bids for the Olympics.

"It's a great feeling of happiness to be bringing the Games back to Paris after 100 years," Paris mayor Anne Hidalgo said.

In Paris, giant Olympic rings were unveiled in front of the Eiffel Tower just after the announcement was made as a small crowd celebrated in driving rain.

The 2028 Olympics will be the first held in the United States since the chaotic 1996 Games in Atlanta.

It will also mark the third time that Los Angeles has hosted the Olympics following successful editions in 1932 and 1984.

Paris and Los Angeles emerged from the initial bidding race for the 2024 Games after a number of cities withdrew citing waning public support and concerns over budget.

Hamburg, Rome, Budapest and Boston all fell by the wayside during the competition, reflecting the political difficulties in persuading voters that staging the Olympics is worth the multi-billion-dollar price tag.

IOC chief Bach first signalled publicly that the double-award of an Olympics could be on the agenda in December last year, lamenting that the bidding process produced "too many losers".

As the tussle for 2024 unfolded, and as the field thinned to leave just Los Angeles and Paris, the IOC's determination to secure two high-quality bids for the next two summer games became apparent.

In July, the IOC announced it would award the staging rights for the 2024 and 2028 Olympics at the same meeting in Lima, laying the way for a swift agreement between the two over the running order.

"We cracked the code when the IOC changed the formula," Los Angeles Mayor Garcetti told AFP.

"We've talked to a lot of folks who said it used to be about one corner of the room celebrating and the rest crying...I think we showed that dreams can come true."

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 IOC was left tackling a fresh wave of graft allegations last week when investigators in Brazil swooped on the country's Olympics chief Carlos Nuzman.

Nuzman stands accused of plotting to bribe IOC members into awarding Rio de Janeiro the 2016 Games at a 2009 vote in Copenhagen.

The allegations swirling around Rio's bid revived memories of the Salt Lake City bribery scandal, which led to 20 IOC members being either kicked out of the Olympics' ruling body or pleading guilty to accepting bribes for votes.

French investigators meanwhile have already announced they are investigating the 2013 vote in Buenos Aires which awarded the 2020 Olympics to Tokyo, following reports of secret payments into a Singapore-based bank account linked to the son of disgraced former world athletics chief Lamine Diack.

IOC official Dick Pound, who has been critical of Bach's handling of recent corruption and doping scandals, believes the movement can however have reason to celebrate after Wednesday's joint award.

"You've got Paris and Los Angeles locked in for the next two games, on top of Tokyo," Pound said.

"So that's three first-class host cities in a row. That's an excellent outcome." View More</s>The International Olympic Committee has awarded Paris the rights to host the 2024 Summer Olympics and Los Angeles will stage the 2028 Games. It was a pre-determined conclusion that the IOC ratified in a vote. It marks the first time that the international body has awarded two Summer Olympics at the same time.

The confirmation comes after a year’s worth of scrambling by IOC president Thomas Bach. It will be the third time that the Olympics will be staged in both LA and Paris. While LA hosted its last Games 32 years ago, the Olympics start in Paris at the same time as the 100th anniversary of the city hosting its last Games.

For all the latest Sports News, download Indian Express App</s>LIMA, Sept 13 (Reuters) - The International Olympic Committee on Wednesday awarded the 2024 summer Olympic Games to Paris and the 2028 edition to Los Angeles following a vote in the Peruvian capital.

Paris, which has hosted two previous Olympics, will stage the event 100 years after its last Games in 1924 while Los Angeles will also organise its third Games after 1932 and 1984.

There were no other candidates for either the 2024 or 2028 Games and the votes were a formality. IOC President Thomas Bach said the votes for both cities were "unanimous".

The IOC decided in July to award both Games at the same time, following the withdrawal of four of the six cities bidding for the 2024 Olympics, amid concerns about the size, cost and complexity of organising the world's biggest multi-sports event.

Los Angeles then dropped its bid for the 2024 Olympics, for which it had been campaigning for over two years, in return for receiving the 2028 edition.

Paris, with a total Games budget of 6.8 billion euros ($8.09 billion), had failed with previous attempts to land the 1992, 2008 and 2012 Olympics.

The presence of French President Emmanuel Macron, who also spoke on Wednesday in a video message, at the IOC's extraordinary session in July in Lausanne was seen as crucial in sealing the deal for the French capital for 2024.

The Los Angeles 2028 Games, with a budget of $5.3 billion, will essentially follow the plan they had in place for 2024, including housing athletes at the UCLA campus.

It is the first time the IOC has awarded a Games 11 years in advance.

The Olympic body, however, was eager to secure the future of its prime product even if it meant handing out two editions at the same time after Boston, Budapest, Rome and Hamburg all pulled the plug on their bids mid-race, fearing high costs and local opposition.</s>>Lima: The International Olympic Committee will crown Paris and Los Angeles as hosts for the 2024 and 2028 Olympics in Lima on Wednesday, delivering a welcome feel-good factor amid a gathering storm of corruption allegations.

For the first time since the awarding of the 1984 Olympics, when only one city was in the race, the traditional frenzy of last-minute lobbying, politicking and schmoozing will be strikingly absent in Lima.

In a historic move, the IOC brokered an agreement that will see Paris handed the 2024 Games with Los Angeles awarded 2028, an outcome that all sides are declaring as victory in a "win-win-win" deal.

IOC members will ratify the agreement following 25-minute presentations by Paris and Los Angeles, the last two cities left in the race for the 2024 Olympics.

"It's a big win and we are here to really enjoy it," said Paris 2024 bid co-chief Tony Estanguet, reflecting the triumphant mood amongst the French delegation as Wednesday's vote neared.

Los Angeles 2028 officials meanwhile insisted they are satisfied with the deal which means the Californian city will have to wait 11 more years before it stages the Olympics for a third time.

The city will receive roughly $100 million more than Paris in IOC funding for the games, a financial sweetener that delivers "a frankly much better economic result", according to 2028 bid chief Casey Wasserman.

"We think the result is extraordinary," Wasserman told AFP. "We'll be celebrating on Wednesday night and through the weekend in LA for sure."

IOC chief President Thomas Bach, the driving force behind the double award, described the candidacies of Paris and Los Angeles as a "golden opportunity."

"For the IOC it would have been a huge mistake not seize this golden opportunity," Bach said Monday.

Wednesday's vote marks the conclusion of a mostly good-natured bidding campaign notable for the number of cities who withdrew from the race citing waning public support and concerns over budget.

Hamburg, Rome, Budapest and Boston all fell by the wayside during the competition, reflecting the political difficulties in persuading voters that staging the Olympics is worth the multi-billion-dollar price tag.

IOC chief Bach first signalled publicly that the double-award of an Olympics could be on the agenda in December last year, lamenting that the bidding process produced "too many losers."

As the bidding battle for 2024 unfolded, and as the field thinned to leave Los Angeles and Paris as the last bids standing, the IOC's determination to lock in two high-quality cities for the next two summer games became apparent.

Los Angeles and Paris, whose bids emphasise a high-level of venue readiness, both wowed the IOC's Evaluation Commission during back-to-back visits in May.

In July, the IOC announced it would award the staging rights for the 2024 and 2028 Olympics at the same meeting in Lima.

The drama-free conclusion also guarantees the IOC will not have to confront the explosive fall-out from the vote for the 2016 Olympics, which detonated spectacularly last week when investigators in Brazil swooped on the country's Olympics chief Carlos Nuzman.

Nuzman stands accused of plotting to bribe IOC members into awarding Rio de Janeiro the 2016 Games at a 2009 vote in Copenhagen.

Former IOC member Nuzman was taken in for questioning with his passport confiscated and a search of his house unearthing around $150,000 worth in cash in various currencies.

Brazilian police later said they are probing "an international corruption scheme" aimed at "the buying of votes for the election of (Rio) by the International Olympic Committee as the venue for the 2016 Olympics."

The charges swirling around Rio's bid revive memories of the Salt Lake City bribery scandal, which led to 20 IOC members being either kicked out of the Olympics' ruling body or pleading guilty to accepting bribes for votes.

French investigators meanwhile have already announced they are investigating the 2013 vote in Buenos Aires which awarded the 2020 Olympics to Tokyo, following reports of secret payments into a Singapore-based bank account linked to the son of disgraced former world athletics chief Lamine Diack. View More
The International Olympic Committee awards the 2024 Summer Olympics to Paris and the 2028 Summer Olympics to Los Angeles.