SPORTS

Los Angeles proposes $4.1B budget, says significant profit if chosen as Olympic candidate

  • FILE - This July 27, 1984, file photo, shows 1960 Olympic Decathlon Gold Medalist Rafer Johnson lighting the Olympic torch during the Opening Ceremonies of the 23rd Olympiad in Los Angeles. If the city of Los Angeles becomes the U.S. candidate for the 2024 Olympics after Boston’s recent drop from contention, the organizers’ proposed budget for the Summer Games would be $4.1 billion plus a $400 million contingency, a senior adviser to Mayor Eric Garcetti said Monday, Aug. 10, 2015. (AP Photo, File)

    FILE - This July 27, 1984, file photo, shows 1960 Olympic Decathlon Gold Medalist Rafer Johnson lighting the Olympic torch during the Opening Ceremonies of the 23rd Olympiad in Los Angeles. If the city of Los Angeles becomes the U.S. candidate for the 2024 Olympics after Boston’s recent drop from contention, the organizers’ proposed budget for the Summer Games would be $4.1 billion plus a $400 million contingency, a senior adviser to Mayor Eric Garcetti said Monday, Aug. 10, 2015. (AP Photo, File)  (The Associated Press)

  • FILE - In this July 28, 1984, file photo, the Olympic flame is flanked by a scoreboard signifying the formal opening of the XXIII Olympiad after it was lit by Rafer Johnson during the opening ceremonies in the Los Angeles Memorial Coliseum. If the city of Los Angeles becomes the U.S. candidate for the 2024 Olympics after Boston’s recent drop from contention, the organizers’ proposed budget for the Summer Games would be $4.1 billion plus a $400 million contingency, a senior adviser to Mayor Eric Garcetti said Monday, Aug. 10, 2015. (AP Photo/Eric Risberg, File)

    FILE - In this July 28, 1984, file photo, the Olympic flame is flanked by a scoreboard signifying the formal opening of the XXIII Olympiad after it was lit by Rafer Johnson during the opening ceremonies in the Los Angeles Memorial Coliseum. If the city of Los Angeles becomes the U.S. candidate for the 2024 Olympics after Boston’s recent drop from contention, the organizers’ proposed budget for the Summer Games would be $4.1 billion plus a $400 million contingency, a senior adviser to Mayor Eric Garcetti said Monday, Aug. 10, 2015. (AP Photo/Eric Risberg, File)  (The Associated Press)

A mayor's adviser says that if the city of Los Angeles becomes the U.S. candidate for the 2024 Olympics after Boston's recent drop from contention, the organizers' proposed budget for the Summer Games would be $4.1 billion.

Jeff Millman, a senior adviser to Mayor Eric Garcetti, told The Associated Press on Monday that the budget also includes a $400 million contingency, half of which is to cover city expenses.

Millman says they city's projection anticipates revenues far in excess of $4.5 billion and a significant profit.

The budget is not from city funding, but would instead come to the Los Angeles organizing committee from such sources as broadcast revenue, sponsorships and tickets.

Boston had proposed a budget under $5 billion, but its candidacy flamed out late last month.