AFP, LOS ANGELESOrganizers of Los Angeles’ bid for the 2024 Olympics on Friday unveiled an updated budget, vowing to deliver the Games within a US$5.3 billion price tag. Bid chiefs said the LA 2024 plan would require “no surprises” and would benefit from more than 30 competition and non-competition venues that are already built or are planned by private investors. The plan revised an initial budget announced in August last year which projected a US$161 million surplus. No surplus was projected in the new budget, but organizers said a contingency fund of US$491.9 million would be available. The total cost for this year’s Rio de Janeiro Olympics also went over budget, with a final price tag of about US$12 billion.

Source: Taipei Times December 03, 2016 16:03 UTC