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. Take a look at the LA2024 bid book. 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" (L.A. TIMES, 8/26).

SLOW ROLL: In Toronto, Jennifer Pagliaro notes Mayor John Tory "remains quiet" on whether the city will bid for the '24 Games. But the detailed L.A. plan released "both sets the stage for a potential Toronto bid and sets the bar for any promises city, provincial and federal leaders may be willing to make." Tory has been "working to answer questions about a potential Toronto bid before deciding whether to sign a letter of interest, due Sept. 15." The mayor’s office yesterday said that Tory is "not yet ready to make that call" (TORONTO STAR, 8/26).