Los Angeles Launches Olympic Bid

L O S  A N G E L E S, Dec. 5 -- Trying to make Los Angeles the firstthree-time Olympic city, a committee launched a $2 billion bidtoday to bring the Games back to California.

John C. Argue, a lawyer heading the LA 2012 Committee, said hethought the group’s chances were excellent.

“We did the best job the last time. We have the facilities andthe weather and I think we’re going to be selected,” Argue saidduring a news conference.

Los Angeles staged the Olympics in 1932 and 1984. Argue saidthat most of the facilities for sporting events already exist andthe LA 2012 Committee would need to spend less than $100 millionfor new or temporary facilities out of a total budget of $1.9billion — more than four times the cost of the 1984 Summer Games,which made a $232 million profit.

Los Angeles Memorial Coliseum, the centerpiece of the 1932 and1984 games, would be renovated under the bid proposal at a cost of$30 million for track and field events and the opening and closingceremonies.

A profit of $100 million is anticipated if Los Angeles gets thebid for 2012, said Argue, who was an executive of the 1984 LosAngeles Olympic Organizing Committee.

Other U.S. cities expected to submit bids by the Dec. 15deadline include Dallas, Washington-Baltimore, Cincinnati, Houston,New York, San Francisco and Tampa, Fla.

The U.S. Olympic Committee is to make its choice in the fall of2002, and the International Olympic Committee is scheduled to pickthe host city in the fall of 2005.