Lunes, 23 Octubre, 2017

Olympics 2028: Los Angeles city council approves contract to host Games

LA Olympics Track and Field rendering Artist conception of track and field venue at L.A. Memorial Coliseum at 2024 Olympics which LA will now host in 2028. Image via
Galena Nuncio | 12 Agosto, 2017, 23:54

The Los Angeles city council rubber stamped the host city contract Friday, paving the way for bringing the 2028 Summer Olympics to southern California.

"Look, there's 11 years before the Games, so it wouldn't hurt if they took a year or even six months instead of rushing", Jed Parriott, an organiser of the NOlympics LA group, told the Los Angeles Times. "I remember getting a gold medal and running around the track". My father wasn't the type to cry. I am so excited.

A 12-0 vote today sealed the LA City Council's support for the new deal with additional International Olympic Committee contribution and funding for youth sports.

USA destroyer challenges China's claims in South China Sea
The country's Defense Ministry also lambasted the US move, calling it a "provocative act" that had seriously damaged mutual trust. Geng reiterated that the U.S. provocation would force China to take further measures to strengthen homeland defense capacity.

The Council approved a new memorandum of understanding and host city contract for the 2028 Olympics, despite lacking finalized figures about the costs and potential financial liabilities of an event Los Angeles originally wanted to host four years earlier. "My goal for them is to make their parents cry like my parents cried". "It's about making a difference and we can come together and work on all the issues and problems we have together", he said.

"My top priorities in this process are to protect Los Angeles taxpayers and create new opportunities for young Angelenos to play sports, and be healthy", LA Mayor Eric Garcetti said in a statement. The IOC has reached a tripartite agreement with the cities of Paris and Los Angeles to forego the usual host city election and give the 2024 edition to Paris followed by LA in 2028.

The vote means that Los Angeles, Paris and the International Olympic Committee will now join forces on a three-way agreement ahead of the IOC's September 13 meeting in Lima, Peru when the Games will be officially awarded.

Colliers International Group Inc. (CIGI) Stake Boosted by Credit Suisse AG
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Tuesday, August 1st. Parametric Portfolio Associates LLC boosted its stake in Colliers International Group by 21.0% in the first quarter.

But Los Angeles' campaign was given a boost when Olympic leaders agreed to hand over a bigger portion of their broadcast and sponsorship revenue for allowing Paris to go first.

This includes receiving $1.8 billion (£1.4 billion/€1.5 billion) contribution has the potential to exceed $2 billion (£1.5 billion/€1.7 billion) according to the evaluation of the Los Angeles Bid Committee when taking into account the estimated value of existing sponsor agreements to be renewed and potential new marketing deals.

Despite not yet having a full budget, both the Office of the Chief Legislative Analyst and the Office of the Chief Administrative Officer recommended that the council approve the host city contract and MOU. The IOC also agreed to funnel any of its profits from the Games back to the city.

Sanctions, talks important for N. Korean nuclear issue: China
While the US position is that North Korea must ultimately give up its nukes, the North insists it must keep them. It has long accused the United States and South Korea of escalating tensions by conducting military drills.

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