Paris, Los Angeles prepare to celebrate Olympic award

After a week that has seen the IOC forced onto the defensive over mounting corruption allegations, the Olympic movement will bask in a welcome jolt of good news the two cities celebrate their respective awards.

Both will go through the formalities of outlining their bids in 25-minute presentations to the IOC membership starting at 12pm (1700 GMT) local time at Lima Convention Centre. At 1pm (1800 GMT) the IOC will vote to ratify the deal, bringing to an end a mostly amicable campaign that has been stripped of the usual drama and intrigue ever since Paris and Los Angeles agreed to split 2024 and 2028 in July.

"It's a big win and we are here to really enjoy it," said Paris 2024 bid co-chief Tony Estanguet, reflecting the triumphant mood among the 60-strong French delegation in the Peruvian capital.

LA officials meanwhile insist they are more than satisfied with the outcome, rejecting suggestions that their failure to win the 2024 Games represented a defeat.

The California metropolis will receive roughly $100 million more than Paris 2024 in IOC funding for 2028, and will also benefit from a $180 million interest-free advance which means the city can begin to create a sporting legacy well before the Games take place in 11 years' time.

"We think the result is extraordinary," Los Angeles 2028 bid chief Casey Wasserman said. "We'll be celebrating on Wednesday night."

IOC President Thomas Bach, the driving force behind the double award, described the candidacies as a "golden opportunity". "For the IOC it would have been a huge mistake not to seize this golden opportunity," said Bach.

Paris and LA emerged from the initial bidding race for the 2024 Games after a number of cities which withdrew citing waning public support and concerns over budget.