Los Angeles 2024
LA 2024

LA 2024 Olympic bid budget one-quarter the size of Tokyo 2020

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The Los Angeles bid committee for the 2024 Olympics released details of a nearly unheard-of budget plan Friday, insisting $5.3 billion will be enough to cover both operational and infrastructure costs for an Olympics that won’t need any new, permanent stadiums.

The cost would be less than half that of the recently completed Rio Games and about a quarter of Tokyo’s ballooning budget for the 2020 Olympics.

It also defies convention in the Olympic bidding business, in which cities traditionally deal with two figures — one for operational costs and one for “non-Olympics” costs that cover capital and infrastructure.

Bid officials say they can do this because more than 30 venues already exist in the L.A. area and those that don’t will be built as temporary structures. The bid folded in $1.2 billion for infrastructure, which would primarily be used for temporary venues and to bring existing ones up to Olympic standards.

“If LA is chosen to host the 2024 Games, the IOC does not have to worry about changing or evolving budgets, shifting competition venues or uncertainty about the delivery of the Games,” bid chairman Casey Wasserman said.

Los Angeles is going against Paris and Budapest, Hungary. Preliminary figures for Paris called for an infrastructure budget of $4.5 billion and operational costs of $4.8 billion, with 95 percent of the city’s proposed venues either temporary or already in existence. The next deadline for cities to submit candidate files, which will include updated budget figures, is Feb. 3. The Games will be awarded next September.

Gone from Los Angeles’ budget was a one-time projected surplus of $161 million. In its place is a $491 million contingency fund that would cover cost overruns.

Wasserman said all the figures are conservative and the numbers come in low because no major construction projects are needed. Los Angeles has already committed to more than $200 billion in transit and airport projects, regardless of whether it wins the Olympic bid. Often, projects such as those get approved in conjunction with an Olympic bid.

In providing a $5.3 billion budget, Los Angeles is playing to the International Olympic Committee’s attempt to keep costs — and building — in check; decades of runaway spending have greatly reduced interest in hosting.

Rio de Janeiro is expected to come in with a bill of between $10 billion and $12 billion for its recently completed Olympics.

Meanwhile, Los Angeles released its figures only hours after an IOC vice president called Tokyo’s $20 billion budget unacceptable. A government panel in Japan has said costs could reach $30 billion, more than four times the initial estimate.

Wasserman said the IOC will not be surprised when it sees all items wrapped into a single L.A. budget.

“The process has been very open and transparent,” he said.

The budget was also being independently reviewed by the accounting firm KPMG, which was expected to release its findings later Friday.

The bid’s top revenue sources are domestic sponsorship ($1.93 billion), ticketing ($1.47 billion) and IOC contributions from broadcasting ($855 million) and sponsorship ($453 million).

VIDEO: Los Angeles Olympic bid venues

Michael Phelps still has ‘no desire’ to come back

AP
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Michael Phelps says he has “no desire” to return to competitive swimming, but he is eager to stay involved with the sport and cheer on those who follow in his enormous wake.

In an interview Tuesday with The Associated Press while promoting a healthy pet food campaign, Phelps said he is excited about the birth of his second child and numerous opportunities away from the pool.

It was around this time four years ago when Phelps got serious about ending his first retirement, but he now seems content with his decision to step away again after the Rio Olympics.

His wife, Nicole, is about four months pregnant. The couple already has a 16-month-old son, Boomer.

“I’ve got no desire, no desire to come back,” the 32-year-old Phelps said flatly.

Phelps has attended a handful of swimming meets since the Rio Games, where the winningest athlete in Olympic history added to his already massive career haul by claiming five gold medals plus a silver. A few months ago, he conceded to the AP that he was eager to see how he would feel about a possible comeback after this year’s world championships in Budapest, Hungary.

Turns out, it had no impact.

Phelps said watching others compete “truly didn’t kick anything off or spike any more interest in coming out of retirement again.”

He is eager to follow the development of his heir apparent, Caeleb Dressel, who emerged as the sport’s newest star by winning seven gold medals at Budapest. The 21-year-old Floridian joined Phelps and Mark Spitz as the only swimmers to accomplish that feat at a major international meet.

“I’m happy Caeleb decided to go off this year instead of last year,” Phelps joked. “I’m kind of happy to see him swimming so well when I’m not there.”

With Dressel and Katie Ledecky now leading the American team, the U.S. is expected to remain the world’s dominant swimming country heading into the 2020 Tokyo Olympics.

Even without Phelps.

“It’s time to kind of move on,” he said, “and watch other people come into their own.”

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Dutch cyclist returns from horrific Rio crash to win world title

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Dutch road cyclist Annemiek van Vleuten came back from this dramatic Rio Olympic crash to win her first world title on Tuesday, taking the time trial in Bergen, Norway.

“This one is really beautiful without the crash in Rio, but this makes the story really, really special,” an emotional van Vleuten said. “Actually, I still cannot believe it. … This season I’m surprising myself what I can do. To be world champion in the time trial, I never thought I’d be able of this.”

Van Vleuten, 34, covered the 13-mile course in 28 minutes, 50.35 seconds, topping countrywoman Anna ven der Breggen by 12 seconds.

Australian Katrin Garfoot took bronze, 19.02 seconds ahead of Chloe Dygert, a U.S. Olympic silver medalist in track cycling. American Amber Neben, the defending champion, was 11th.

Full results are here.

In Rio, van Vleuten suffered three small spine fractures and a concussion when her brakes appeared to lock, and she flipped over into a ditch during the road race. Van Vleuten was alone in the lead at the time with about seven miles to go of the 87-mile course.

She was eventually hospitalized in intensive care.

Van der Breggen went on to win the Olympic title.

Van Vleuten wasn’t out long. She raced at last October’s world championships, placing a career-high fifth in the time trial. She then won La Course in France, a two-day race, in July.

“To be an athlete is to have really ups and downs,” van Vleuten said Tuesday. “Sometimes really downs, but the downs make the ups even more beautiful, I think.”

Van Vleuten’s first celebratory act Tuesday was to climb past two barriers and into her mother’s arms.

“Last year my mum watched the Rio race on television, it was her birthday and she was with lots of my family, so it was a really hard day for her,” Van Vleuten said in a news conference, according to Cyclingnews.com. “My father died in 2008, and so it was really special to have her here and celebrate the good things of cycling together. We’ve dealt with bad things together in the past, so it’s important to be really happy and proud to celebrate and to also remember my father.”

The world championships continue Wednesday with the men’s time trial at 7 a.m. ET on the Olympic Channel: Home of Team USA and streaming on NBCSports.com/live.

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MORE: World Road Cycling Championships broadcast schedule