LA Projects $161 Million Surplus if it Gets 2024 Olympics

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LOS ANGELES (AP) —

Organizers behind Los Angeles’ plans for the 2024 Olympic Games released a budget that predicts a $161 million surplus.

The proposal Tuesday envisions events taking place across the region, from gymnastics at the downtown Staples Center to volleyball on Santa Monica Beach.

The estimate released Tuesday comes about a month after the U.S. Olympic Committee cut ties with Boston, which was initially selected as the U.S. contender for the games.

A sticking point was possible cost overruns that would be picked up by taxpayers.

The USOC faces a Sept. 15 International Olympic Committee deadline to enter a bid.

LA, which hosted the 1932 and 1984 Olympics, is viewed as the likely choice because its many existing venues would help keep costs low.

The Los Angeles plan projects spending $4.1 billion.