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California Legislature

California taxpayers will provide $270 million if L.A.'s 2028 Olympics goes over budget under bill passed by Legislature

Los Angeles Mayor Eric Garcetti is congratulated by council member Joe Buscaino at a news conference to announce the city's approval of a deal to host the 2028 Olympics. (Marcus Yam / Los Angeles Times)
Los Angeles Mayor Eric Garcetti is congratulated by council member Joe Buscaino at a news conference to announce the city's approval of a deal to host the 2028 Olympics. (Marcus Yam / Los Angeles Times)

California legislators pledged up to $270 million in state tax dollars on Saturday to cover costs should Los Angeles' 2028 Olympic bid go over budget.

The 2028 Summer Games are expected to have a $5.3-billion price tag, and organizers think corporate sponsorships, ticket sales and other revenue sources could cover expenses. Los Angeles was awarded the 2028 Games this week, and city officials have asked the state for financial assistance.

Gov. Jerry Brown has not specifically weighed in on the measure, AB 132, but has promised broad support for the Olympics. He also signed a measure last year that would have provided a similar financial guarantee when Los Angeles was bidding on the 2024 Games.

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