The US Olympic Committee has formally named the city of Los Angeles as its official choice to host the 2024 Olympics.
"Especially with us having so many of the venues in place and having less expense than I think other places would have, I think this will run a surplus and this will be a financial positive for the city," says Los Angeles City Council Paul Koretz.
The city is up against Rome, Paris, Hamburg and Hungary's Budapest for the bid.
Los Angeles hosted the Olympics in 1984.
No American city has hosted a Summer Olympics since Atlanta in 1996.
