$250 Million Olympic Guarantee Leaves California On Hook If Los Angeles Gets 2024 Games

SACRAMENTO, Calif. (AP) – Gov. Jerry Brown is approving legislation that puts California taxpayers on the hook for up to $250 million if Los Angeles is awarded the 2024 Olympics and the Games go over budget.

Brown announced Thursday that he signed the bill, SB1465, by Democratic Senate President Pro Tem Kevin de Leon of Los Angeles.

LA Olympics boosters say the guarantee is needed to bolster their case against rivals seeking the Games in Paris and Budapest, Hungary.

They insist LA has a sustainable budget and insurance protection. Backers say the 1984 Los Angeles Olympics were profitable.

Critics say the guarantee is not a good use of tax dollars.

The state provided similar guarantees for Los Angeles’ bid for the 2016 Olympics.

The International Olympic Committee will name the host city in September 2017.


Copyright 2016 The Associated Press.


One Comment

  1. G says:

    We don’t have money for teachers or schools even though the lottery was supposed to fix that how many years ago? Moonbeam is having a bullet train that’s costing billions that goes nowhere. And he freaking signed for the Fing Olympics in LA? You can’t even drive on the roads now and how many people are going to be there? Brazil and Russia lost billions and we’re going to host this train wreck?

  2. michael says:

    More evidence that bad decisions at the ballot box are costly. Thanks to the morons that voted for Jerry Brown, again.

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