Paris and Los Angeles confirmed as hosts of 2024 and 2028 Olympic Games

After three failed attempts and 12 years after the demoralizing and disheartening loss to the London bid in 2005, Paris has finally been awarded the Olympic Games it has craved.

On Wednesday, the International Olympic Committee (IOC) confirmed that the French capital would host the 2024 Olympics, while Los Angeles was awarded the 2028 Games.

Both campaign teams summarized their bids in presentations at the 131st IOC Session in Lima, Peru, before the IOC voted to formally confirm the announcements.

As part of the Paris presentation Wednesday, French President Emmanuel Macron spoke to the IOC members via video link.

“This is a win-win-win situation for Paris, Los Angeles and the entire Olympic Movement,” said IOC President Thomas Bach.

With the two teams — the final contestants of an initial six-strong field — having already agreed to split the 2024 and 2028 Games, there was none of the usual pre-announcement nerves and tension.

In unusual circumstances, the IOC announced two host cities at the same event, with Bach calling it a “golden opportunity” to award two Games simultaneously.

It sees the Games return to the US for the first time since the 1996 Atlanta Olympics and marks the third occasion in which Los Angeles has hosted (1932, 1984).

For Paris, however, the wait has been considerably longer. The city last held the Olympics in 1924, meaning 2024 will mark the 100-year anniversary of its previous hosting.

It also means Paris will become the second city to hold three separate Summer Games, after London and before Los Angeles.

Cost of staging Games

Paris and Los Angeles were the only competitors left for 2024 after rival cities pulled their bids because of worries over cost.

Hosting a modern Olympics practically guarantees massive debt and cost overruns. Researchers at Oxford’s Saïd Business School estimate the cost overrun for the 2016 Summer Olympics, in Rio de Janeiro, was $1.6 billion.

Officials from Paris and Los Angeles had stressed that their cities already have more than 90% of the facilities they need to host, reducing the additional cost.

The Los Angeles planning committee estimates that the games will cost $5.3 billion.

Wednesday’s confirmation came against the backdrop of a possible international corruption scheme surrounding Brazil’s 2016 Olympic bid.

Earlier this month about 70 Federal Brazilian Police conducted raids in Rio de Janeiro as part of “Operation Unfair Play,” which is being conducted in conjunction with French and US police.

They are looking into allegations of purchasing of votes by members of the Brazilian Olympic Committee (BOC) to ensure Rio would be picked as a host city by the International Olympic Committee (IOC).

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Paris and Los Angeles set to get 2024 and 2028 Olympics

Paris and Los Angeles are probably getting the Summer Olympics for 2024 and 2028. It’s just not clear which city will host in which year.

The International Olympic Committee voted unanimously Tuesday to break with tradition and award two games at once.

Paris and LA are the only competitors left for 2024. But it’s been clear since early this year that the IOC is leaning toward awarding the next two games at the same time, to streamline the selection process and provide greater financial stability to the games.

Hosting a modern Olympics practically guarantees massive debt and cost overruns, and many cities have abandoned bids recently. Researchers at Oxford’s Saïd Business School estimate the cost overrun for the 2016 Summer Olympics, in Rio de Janeiro, was $1.6 billion.

“Brazil is not a unique case. All summer and winter games that we’ve studied have shown cost overruns,” wrote Bent Flyvbjerg, the lead researcher. “For a city and country to host the games is a huge undertaking and one of the most costly and financially risky megaprojects they can undertake.”

IOC Vice President John Coates suggested Tuesday that the Paris and Los Angeles Olympic committees will be left to figure out who should host in which year. The decision would then be ratified in September.

If the two cities can’t settle the question of who would get which games, the IOC would decide in September. In that case, the 2028 games could be open to additional bidders.

Paris and Los Angeles were left as the only contenders for 2024 when Budapest withdrew its bid in February. Officials from both Paris and Los Angeles had stressed that their cities already have more than 90% of the facilities they need to host, reducing the additional cost.

Before the announcement, President Trump tweeted that he is “working hard to get the Olympics for the United States.” He has been on record supporting Los Angeles’ bid since shortly after his election in November, and reportedly called IOC President Thomas Bach to lobby for the city.

Bach first raised the possibility of awarding the 2024 and 2028 games at once, saying in December that tapping one city at a time “produces too many losers.” The IOC’s executive board voted last month in favor of awarding both games at the same time. The full IOC voted Tuesday.

–CNNMoney’s Charles Riley contributed to this report.

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Intel drones, virtual reality headed to 2018 Olympics

The next Olympic Games will be a spectacle of modern technology.

The International Olympic Committee (IOC) on Wednesday announced a new partnership with Intel that will run through 2024. The Santa Clara, Calif.-based chip maker will provide drones, virtual reality, artificial intelligence and 360-degree video platforms to help capture Olympic events.

The partnership will start with the 2018 Winter Games in South Korea.

The news comes one week after McDonald’s parted ways with the Olympics after a four decade long sponsorship. McDonald’s has worked with the Olympics since 1968.

Although technology at the Olympics is nothing new, it will play a bigger role in broadcasting games. For example, Intel said home viewers will be able to choose viewing points at Olympic venues, such as front row seats, through virtual reality and 360 video.

Drones will also become more prominent at the Olympics. Intel hasn’t announced the various ways it will use the technology but noted they’ll create “images in the sky,” likely during the opening ceremony. Intel-powered drones were used in Lady Gaga’s Super Bowl halftime show this year.

“Drones are excellent for light shows, filming at different angles and moving something light from point A to point B,” Intel chief strategy officer Aicha Evans told CNN Tech.

Evans said Intel’s technology will also help athletes and coaches. For example, coaches could use virtual reality to closely analyze an athletes’ performance from different angles, Evans said.

The sponsorship builds on Intel’s bigger push into sports. The company recently announced a three-year deal with Major League Baseball to use its True VR platform to broadcast live games and show highlights and on-demand replays.

Intel has also partnered with the National Football League. During Super Bowl LI in 2017, its “Be the Player” perspective, shown via 360 video, provided a point-of-view shot from any player on the field.

The Olympics Committee’s move is part of a greater effort to attract a younger audience amid declining viewership.

“The average audience age in traditional TV continues to go up. [Younger people] consume it off of different platforms and in different ways,” Timo Lumme, IOC managing director of TV and marketing services, told CNN Tech. “We know these technologies will engage a younger demographic.”

Technology continues to have a growing presence at the Olympics. In recent years, photographers have used 3D cameras and underwater robots to capture unique shots.

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NHL players won’t compete in the 2018 Winter Olympics

NHL players won’t be hitting the ice at the 2018 Winter Olympics in PyeongChang, South Korea.

The league said Monday that it will not participate in the games because they disrupt the hockey season.

The statement said the majority of owners were “adamantly opposed” to having players leave the country to compete.

The move by the NHL comes after the International Olympic Committee changed its policy and said it would no longer reimburse the cost of travel and insurance for the hockey players — something the organization has done for the last five Winter Olympics.

The International Ice Hockey Federation stepped up to cover the expenses, but the NHL worried that funding the Olympics would have meant cuts to grassroots programs and initiatives that help grow the sport. So that plan was scratched.

NHL players often go to the Olympics to represent their home countries, such as the U.S., Canada and Russia, even though they risk getting injured in the midst of the professional season. At the 2014 Sochi games, John Tavares sustained an injury that ended his season with the New York Islanders.

The Olympics will still feature hockey, but the roster will be made up of other players.

NHL Commissioner Gary Bettman wanted the players to compete in the Olympics and reached out to the IOC, the IIHF and the NHL Players’ Association to try to find a solution.

“A number of months have now passed and no meaningful dialogue has materialized,” a statement from the NHL said. “Instead, the IOC has now expressed the position that the NHL’s participation in Beijing in 2022 is conditioned on our participation in South Korea in 2018.”

The NHL’s participation in the Olympics never really translated into a bigger fan base or more viewers. Plus, when the best players leave their teams mid-season, it can be upsetting for ticket holders who don’t get to see them compete.

For NBC, which broadcasts the games, the loss of the NHL is a disappointment. It also means that NBC will miss out on a useful way to promote the NHL games it airs.

“The Olympics have long been the world’s greatest international hockey tournament irrespective of whether professionals or amateurs are playing,” an NBC Sports spokesperson said in a statement.

–CNNMoney’s Frank Pallotta contributed to this article.

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