Garcetti has high hopes for the '28 L.A. Games, even with conservative ticket projections at the momentGETTY IMAGES
L.A. Mayor Eric Garcetti presented a "profitability outlook" of $1B for the '28 Games during a speech yesterday at the inaugural L.A. Sports Summit, according to Eric He of the ORANGE COUNTY REGISTER. Garcetti said there is "no question we'll be in the high hundreds of millions" in profit from the '28 Games. He added that nine years out from hosting, L.A. is "on track to meet its guarantees." Should the organizing committee meet the "record sponsorship commitments that Tokyo is receiving" for the '20 Games, it should "have no problem reaching the profitability outlook." He added that that is "before factoring ticket sales," which have been "conservative." He noted a $1B profit would be a "record for a host city" (ORANGE COUNTY REGISTER, 6/25). In L.A., Bill Shaikin noted even in the "unlikely event LA 2028 cannot sell its sponsorships for more money than Tokyo did, the L.A. Games would make more money" because the city "does not need to spend heavily to build sports facilities" (L.A. TIMES, 6/25).
