POSTED: August 10th 2017
NewsUpdate

Olympics: Proposed Memorandum of Understanding between LA 2028, City of Los Angeles, and USOC for 2028 Games released

LA's Olympic Dream for 2028 is becoming a reality © LA 2028
LA's Olympic Dream for 2028 is becoming a reality © LA 2028

MARISSA FLANDERS (USA) / Sports Features Communications

(SFC) In preparation of the 2028 Olympic and Paralympic Games, a proposed Memorandum of Understanding (MOU) was released to define the partnership between Los Angeles (LA) 2028, the City of LA, and the United States Olympic Committee (USOC).

The MOU only needs approval from the LA City Council to become operative. If approved, the MOU would enhance the strong precautions developed during the city's candidature to host the 2024 Games to protect the city from financial risk.

"All of us at LA 2028 are grateful to Mayor Eric Garcetti; Council President, Herb Wesson; the City Council; City Attorney, Mike Feuer; Chief Legislative Analyst, Sharon Tso; and City Administrative Officer, Rich Llewellyn for their thorough review and collaboration in our mission to deliver an Olympic and Paralympic Games that benefits Angelenos for generations to come. Their oversight, support, and vision for the City's future have played a critical role throughout our bid. This MOU demonstrates the belief shared by our city's leaders and 83% of its people that LA's third Games can be a defining moment in our history," expressed LA 2028 Chairman, Casey Wasserman.

In the new MOU, the City of LA will be provided with representation on the LA 2028 Board of Directors and gives the city consent rights over major changes to venues within LA. Also, the $270 million of the projected $500 million Games budget contingency will require more frequent updates and presentations from LA 2028 to the City Council for the first three years. Moreover, the city will aid in developing the overall risk and insurance management strategy for the Games. LA 2028 is also required to acquire additional insurance and a newly independent review of the Games budget that is to be paid by LA 2028.

Los Angeles Mayor, Eric Garcetti stated, "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. This new MOU ensures that our City priorities remain front-and-center in LA 2028's preparations for the Games. Under the City's leadership, we can be sure that the up to $160 million we will receive to fund youth sports programs from LA 2028 will be put to the best, most impactful use."

With these provisions, the MOU provides comprehensive oversight of the Plans for the 2028 Games that will allow LA to deliver a fiscally-responsible Games, which also aligns with the city's long-term goals. This new partnership in the MOU will ensure a positive community legacy is left after the Games come to an end.

"The foundation we lay today will strengthen the relationship between our partners, ensuring that the City of Los Angeles has increased protections and expanded management over the next 11 years," concluded Los Angeles City Council, President Herb Wesson.

** MARISSA FLANDERS is a graduate of Saint Leo University with a Bachelor's Degree in Sport Business. She has over four years of writing experience and has a real passion for ice hockey following the Pittsburgh Penguins on her blog www.thepenshockeyshow.com.


Keywords · MOU · LA · LA 2028 · Olympics · USOC


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