The announcement ends months of speculation as to which cities will follow Tokyo's 2020 hosting duties in the subsequent two summer games, as both LA and Paris were locked in a bidding war for the 2024 gig. Now that LA's claimed 2028, it opens up the likelihood that Paris will get it in 2024 when the official announcement is made by the IOC on September 13. If indeed Paris does get the '24 games, it will also join the elite "three times" club (it's previously hosted in 1900 and 1924).
Winning the chance to host the Olympics is obviously a huge deal and point of pride, and it can bring in gobs of cash for a city. But, it can also financially hobble a city, considering the spending required to build out an infrastructure that can support the myriad events and millions of people who'll flock there. Atlanta, the last US city to host the Summer Games in 1996, was pretty dramatically transformed in preparation, and that led to issues of their own. LA's mayor Eric Garcetti is proclaiming that the deal is a good one, after the IOC agreed to a number of demands that will provide discounts and set up more financially safe situation for the city.
Still, some residents are wary of the decision.Their overwhelming concern, though, is related to how it will affect traffic, which for anyone who's spent any meaningful amount of time in the gridlock-afflicted city, will most definitely understand. We wouldn't be all that surprised to find out that the torch ceremony will have to be delayed by hours due to a crippling backup on the 405.