FILE PHOTO: International Olympic Committee (IOC) President Thomas Bach next Mayor of Los Angeles Eric Garcetti ratifies Paris 2024 and Los Angeles 2028 host cities for Olympics games during the 131st IOC session in Lima, Peru September 13, 2017. REUTERS/Mariana Bazo
LOS ANGELES (Reuters) - The 2028 Summer Games will see host city Los Angeles record a profit of at least $1 billion (£784.3 million), mayor Eric Garcetti told a sports summit on Monday.
Garcetti said utilizing the city's existing sports venues would keep costs down while ticket and sponsorship sales would top current projections to help Los Angeles avoid the pitfalls that have left some other host cities in debt.
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