LA Council Approves Olympic Financial Safeguards | San Diego News

LA City Council just approved a controversial Olympic deal that could shield taxpayers from up to $1 billion in potential losses if the 2028 Games underperform — but critics warn it’s not enough, especially as public safety costs loom large. The agreement unlocks a $270 million contingency fund from the private organizing committee, with the state stepping in for the next $270 million — leaving the city’s general fund on the hook for anything beyond that. With a 10-4 vote, officials are gambling on financial projections while acknowledging the real risk: if LA28 tanks, L.A. could end up paying the price. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/19b6ecfc52bf0cda