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Los Angeles has officially signalled its candidature to host the 2028 Olympic Games.
The move leaves Paris free to host the 2024 Olympic Games, on the centenary of its previous hosting in 1924.
In June, the International Olympic Committee voted to name hosts for successive Games – with just Paris and Los Angeles bidding.
However, it was unclear at that time which would host in which year, with both seeking the 2024 event.
The IOC has since pledged to contribute $1.8 billion to the organising committee of the Los Angeles games, welcoming its decision to allow Paris to take the 2024 event.
The funds will include money to pay for the extended planning period and to support youth sports programmes in the city.
“The IOC welcomes this decision of the Los Angeles Olympic & Paralympic Candidature Committee, and we are pleased to release the Host City contract 2028 in a transparent and timely manner,” said IOC president Thomas Bach.
“We are very happy that, as part of this Host City Contract, we are able to increase the access of the city’s youth to sport, and encourage the healthy lifestyle of Angelenos for the next 11 years.
“We are very confident that we can reach a tripartite agreement under the leadership of the IOC with LA and Paris in August, creating a win-win-win situation for all three partners.”
The agreement will be put forward to the IOC Session in Lima in September for ratification.
The IOC wanted Los Angeles and Paris to reach an agreement before the session in September.
Had they not, a vote to select the 2024 host would have been held.
The two cities were the only ones left in the race for 2024 after Budapest, Hamburg and Rome withdrew.
Paris mayor Anne Hidalgo said: “Paris and Los Angeles are two amazing global cities that are united in their support of the Olympic cause and we stand together now to help the Games thrive in 2024 and 2028.
“As this announcement shows, dialogue between the IOC and the two cities is progressing well.
“We are confident that a ‘win-win-win’ agreement can be finalised ahead of the IOC session in Lima.”