The International Olympic Committee has named three cities -- the only cities still interested -- to its official list of candidates for the 2022 Winter Games.
The bids of Beijing, Oslo and Almaty, Kazakhstan, were approved by the IOC's executive board.
The action came months after the 2014 Sochi Games, whose organizers set a record by spending an estimated $50 billion-plus.
"The executive board is confident that the future hosts of the Olympic Winter Games can break even with the Olympic Games budget," IOC President Thomas Bach said.
Though the IOC contributed about $750 million to the Sochi Games, cost remains a major concern for potential bidders. Stockholm; Krakow, Poland; and Lviv, Ukraine, all withdrew from the running for 2022.
Officials in Vancouver, Canada, recently announced that they broke even on their Games in 2010. Russian officials have claimed they made a $261-million profit from Sochi but have yet to provide financial details.
The 2022 candidates have until January 2015 to submit their files and guarantees. The IOC will conduct evaluation visits through early next year, leading to a membership vote by summertime.Copyright © 2014, Los Angeles Times