The 13th of September 2017 might seem quite far away today. For most of us this date is insignificant right now but for the cities of Budapest, Paris and Los Angeles it will be the day they find out whether their bid to host the 2024 Summer Olympic Games has been successful.
For the 2nd time running, the contest is a three-city race. This is down to the unselected bids of Berlin, Boston and Washington DC and the recent withdrawal of Rome. The reduced field is something that might concern the IOC. The last time Los Angeles "bid" they had no competition. The 1984 Games were hosted by the California city and proved to be an economic success, turning a profit of in excess of $200 million. This is the last time the Games made a net profit.
This good press encouraged other cities to bid in the decades that followed. A win-win for the IOC. However, the cost of hosting the Games, as demonstrated by Athens, Beijing, London and most recently Rio, are forcing some to have a rethink.
With it, bargaining power is moving towards those bidding, and away from the IOC. Whilst not the same as 1984, those hoping to win the rights are probably better placed than before.
The IOC will do all they can to ensure that this recent decline doesn't become the norm or, worst still, decline further.
Ironically, it may be that the cost of hosting the Games, now somewhere in the region of $12 to $15 billion, is putting off would-be applicants. Should the 2028 or 2032 Games see only one bidder, its likely the cost of hosting these Games will fall accordingly.