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According to a report from the Los Angeles Times, the citizens of L.A. will be forced to deal with the 2028 Olympics. Organizers in L.A. had been pushing hard for the 2024 Games and even went as far as saying they wouldn’t accept the “consolation prize” of the 2028 Games if Paris got 2024. Unfortunately, it seems they did, as LA2024 has scheduled a news conference at 5 p.m. PDT.

Organizers estimate that the Games will cost $5.3 billion to host, and claim that most of that money will come from TV rights, sponsorships, and ticket sales. The city of L.A. and state of California are on the hook for cost overruns, which are endemic to the Olympics, although there is a study you should be intensely skeptical of that claims the Games will generate $11 billion for the city. Every city declares that their Olympics will be the one that bucks the model and enriches its citizenry; they’re never correct.