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California governor approves $250 mn in 2024 guarantee

California Governor Jerry Brown addresses Day Three of the Democratic National Convention at the Wells Fargo Center in Philadelphia, PennsylvaniaCalifornia governor Jerry Brown Thursday guaranteed the state would provide up to $250 million if Los Angeles is awarded the 2024 Olympics and the Games go over budget. Brown signed legislation, authored by state senate leader Kevin de Leon of Los Angeles, that guarantees California will provide a financial backstop in case of a budget shortfall. Los Angeles mayor Eric Garcetti said the legislation “gives our LA Olympic and Paralympic bid even stronger financial protections — and more importantly, the strong support of our state’s leadership”.

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