No Section
L.A. Bid Book For '24 Games Shows $800M In Renovations For Memorial Coliseum
Organizers of the likely L.A. bid for the ’24 Games are planning $800M worth of renovations to L.A. Memorial Coliseum and extensive use of the L.A. Live entertainment complex, according to a bid book published yesterday. USC would be responsible for $500M of the price tag for a state-of-the-art Coliseum overhaul, part of $1.7B in private developer funding imagined as part of the bid. In a recently updated budget, the bid committee believes Games operations will generate $4.83B and cost $4.66B, which includes a $400M contingency fund and a $150M insurance premium. <a href="http://www.scribd.com/doc/276070799/LA2024-Bid-Book" target="_blank">Take a look at the LA2024 bid book</a> . The Olympics would play out in five distinct clusters around the region, the largest dubbed “Downtown," which includes the Coliseum, Staples Center, Nokia Theatre, L.A. Convention Center and a new LAFC stadium that would be used as a temporary aquatics venue during the Games, as well as the Olympic Village. One cluster, dubbed “Hollywood," would include a broadcast and media center planned to be built in “new studio and office facilities on NBCUniversal’s Studio lot.” Another cluster, “Valley," near the Sepulveda Dam, would host five sports ( Ben Fischer, Staff Writer ). L.A. Office of the Mayor Communications Advisor Jeff Millman: "This is the first draft. If Los Angeles is selected by the USOC, it will evolve in the months and years ahead" ( <a href="http://www.latimes.com/sports/sportsnow/la-sp-sn-financial-details-of-la-bid-20150825-story.html" target="_blank">L.A. TIMES, 8/26</a> ).
