(RNN) - The International Olympic Committee announced on Monday that Los Angeles will be the host of the 2028 Summer Olympics.
The city's bid committee said the games could cost $5.3 billion. According to the Los Angeles Times, the city expects to cover the expenses with tickets and sponsorships.
The IOC will contribute $1.8 billion to Los Angeles to help host the games.
Paris and L.A. were both in contention for the 2024 games. Instead of awarding the 2024 Olympics and starting a separate bidding process for 2028, the IOC agreed in June to award the two cities consecutive Olympics. Paris will host the 2024 games.
The last time the U.S. hosted the Summer Olympics was in Atlanta in 1996. Los Angeles has hosted it twice before, in 1932 and 1984.
President Donald Trump tweeted July 11 that he was "working hard" to get the Olympics in L.A.
Working hard to get the Olympics for the United States (L.A.). Stay tuned!— Donald J. Trump (@realDonaldTrump) July 11, 2017
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