Paris, Los Angeles prepare to celebrate Olympic award

The International Olympics Committee officially chose two cities to host upcoming summer Olympic Games-Paris in 2024 and Los Angeles in 2028.

The IOC named Paris and Los Angeles as hosts for the 2024 and 2028 Olympics tonight, crowning two cities at the same time in a historic first for the embattled sports body.

The evaluation commission signed off on those Monday, saying that although details need to be finalized, it is confident LA can host in 2028. IOC President Thomas Bach has opined a bidding process that "produces too many losers", and throughout the spring did not dismiss notions of awarding two Olympics simultaneously.

Los Angeles officials meanwhile insist they are more than satisfied with the outcome, rejecting suggestions that their failure to win the 2024 Games represented a defeat. "Ensuring the stability of the Olympic Games for the athletes of the world for the next 11 years is something extraordinary".

The decision marks the first time the International Olympic Committee has granted two Summer Olympics at once.

"These are two great cities from two great countries with a great Olympic history", he said in a statement. The last American city to host the Summer Games was Atlanta in 1996.

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

Because it is certain of getting the 2024 Olympics, Paris has been able to plan its celebrations in advance.

IOC President Thomas Bach, the driving force behind the double award, described the candidacies as a “golden opportunity”.

But when the MA capital withdrew over cost concerns, L.A. quickly stepped into what eventually became a two-city race with Paris for the 2024 Games.

"You were the first cities to fully benefit from the reforms of the Olympic Agenda 2020".

The London 2012 Games raised about $1.1 billion, while Rio de Janeiro in 2016 had claimed it had slightly surpassed London, but final accounts are sketchy given the current investigations for corruption linked to Olympic Games projects in Brazil.

In 2015, Boston was initially awarded the US bid for the 2024 Olympic and Paralympic Games, but dropped out.

In September of that year, Los Angeles stepped back in as the USOC's pick to replace Boston.

"This is the moment Angelenos have been waiting for since we began our work to bring the Games back to Los Angeles, " L.A. Mayor Eric Garcetti said over the weekend before leaving for Peru.

"I want to thank the people of my city, the Angelenos who have believed in the Olympics for over a century", Garcetti said then.