Photo Credit: Getty Images/  Kevork Djansezian 

It’s official Los Angeles will host the 2028 Olympics.

The IOC will contribute $1.8 billion for planning and organizing the summer games, there might be a possibility the expenses exceed $2 billion because of existing sponsor agreements and potential new marketing deals.

IOC President Thomas Bach called the decision a golden opportunity. Now that L.A. has a longer planning period for the games it will be used to support youth sports programs in the city according to a news release.

The IOC will put forward the plan for approval at its September meeting in Lima, Peru.

It’s been more than a decade since the USOC has been trying to bring back the games to the United States. The last time LA hosted the olympics was back in 1932.

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