By Fatih Erel

GENEVA

The International Olympic Committee (IOC) confirmed Monday that Los Angeles will host the 2028 Summer Olympic Games.

The agreement follows weeks of negotiations between the IOC and city officials.

"The IOC welcomes this decision of the Los Angeles Olympic and Paralympic Candidature Committee, and we are pleased to release the Host City contract for 2028 in a transparent and timely manner," IOC President Thomas Bach said in a statement.

The IOC will contribute $1.8 billion to the Los Angeles organizing committee for the games, the organization said.

Following this decision, Paris is expected to host the 2024 Olympics, as the IOC had decided to award the 2024 and 2028 games simultaneously and had asked both cities to help decide which city would get which year.

The IOC is expected to formally announce the host cities for the 2024 and 2028 games in September.