Olympics-LA28 will be “on time and on budget”, says new CEO | Top news


LOS ANGELES (Reuters) – Kathy Carter, who this week was named CEO of the organizing committee for the Los Angeles 2028 Olympic and Paralympic Games, said the Games would be both fiscally sound and leave a lasting impact on the host city.

Carter told Reuters that the “no-build” Games will use the city’s wide array of existing sports facilities and cost an estimated $ 6.9 billion, an expense that will be offset by revenue from sponsorships, sales of tickets and other sources.

“First and foremost, we’re going to put on a Games that is on time and on budget,” said Carter, who made key sponsorship deals as the committee’s revenue director before being elevated to the position of. CEO.

“There are a lot of things we can do to make it very easy for athletes, stakeholders and ultimately fans to engage and experience the Games,” she said.

“But for us, this is the beginning, not the end, because we believe that if that’s all we’re doing, we will have missed a moment to do even more.”

She said a key part of building a lasting legacy and winning over skeptics in the city was launching programs that will now improve the lives of LA residents.

To this end, LA28 has pledged an investment of $ 160 million to make sports more accessible to children in Los Angeles, especially in underserved communities, for sports such as swimming, tennis, golf and judo. .

“We didn’t want to wait until 2029, after we had closed the Games and settled the accounts, to start having an impact on children’s participation in sport. So we made sure to get the kids playing and lower the barriers to entry. a key part of our initiative, “she said.

“We believe we can improve the lives of children in the city of Los Angeles.”

If the committee is successful in implementing these programs ahead of the Games, she said it would go a long way to disproving the narrative that accommodation is a losing proposition for cities.

“We said, ‘Don’t trust us, we’re going to show you, starting with youth sports,'” she said. “And it behooves us to continue to do so.”

Carter took his hat off to the organizers of this summer’s Tokyo Games, which were delayed for a year by the coronavirus pandemic and took place mainly in the absence of fans.

“It really puts a sharper focus on what we need to build from an organizational standpoint to be able to deal with the unexpected,” she said.

“What kind of team, systems and processes do we need to put in place, because no matter what we can imagine, we have to be prepared for the unknown.

“I think this is the key for everyone in business, let alone sports and entertainment activities and big events. You can never be too prepared for the unexpected.”

Copyright 2021 Thomson Reuters.

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