Organizers for the LA 2024 bid to host the Olympic Games on Friday released a $5.3 billion budget, one that offers the Olympics at a cost far lower than many recent Games.
LA 2024 officials called the budget conservative but realistic, saying they plan to avoid the high spending of other games because of how little needs to be built.
Los Angeles will build no new permanent venues under its plan. The bid committee says while the Games would benefit in billions of infrastructure improvements already planned by the city, no new construction is needed for it to host the Games.