Olympics-LA28 Games will be ‘on time and on budget’, says new CEO By Reuters
By Rory Carroll
LOS ANGELES (Reuters) – Kathy Carter, who this week was named CEO of the Los Angeles 2028 Olympic and Paralympic organizing committee, said the Games will be both fiscally sound and leave a lasting impact on the host city.
Carter explained to Reuters that there will be no new Games. They will make use of the many sports venues in the city and cost approximately $6.9 billion. However, revenues from tickets sales, sponsorships, and other revenue sources will help offset the costs.
Carter said that the Games will be held on schedule and within budget. She was also chief revenue officer for the committee before she was promoted to CEO.
There are many ways we can make the Games more accessible to the athletes and stakeholders, as well as the fans.
But that’s just the beginning. We don’t believe it’s enough. If that’s all that we do, then we’ll have lost a chance to do more.
Her belief that a crucial component of building a legacy and winning over critics was to get started with programs that improve the daily lives of LA residents.
LA28 pledges $160 million in order to increase access to sports for children, especially those from under-served areas.
We didn’t want kids to stop participating in sports until after the Games are over. She said that we have made it a priority to get kids involved in sport and reduce barriers for entry.
We believe that we can improve the lives and quality of life for the children of Los Angeles.
She said that if the committee succeeds in implementing these programs before the Games, it would go a long ways toward discrediting the notion that cities hosting the Games is a loss.
We said “Don’t trust us. We’ll show you. Starting with youth sport.” We have to carry on doing this.
Carter expressed gratitude to organizers for this year’s Tokyo Games. They were postponed by the coronavirus epidemic and took place largely with no fans.
She said, “It really points out what we need to build organizationally to be able manage the unexpected.”
What kind of process, team and systems do we need to have in order to prepare for what comes our way?
This is the main takeaway I believe for all businesses, including those in entertainment or sports. It is impossible to be prepared for anything.