What's next after LA's City Council unanimously approves city’s 2024 Olympic bid?

Members of the Los Angeles City Council's Ad Hoc Committee meet before offering its support to bring the 2024 Summer Olympics to Los Angeles, California on August 28, 2015. The City Council's Ad Hoc Committee approved an agreement that would show the United States Olympics Committee that the city of Los Angeles is committed to pursuing a bid to host the Games but the full council still needs to sign off on the deal. AFP PHOTO / MARK RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)

In a unanimous vote, the Los Angeles City Council today granted approval for the city to compete for the 2024 Olympics.

The 15-0 vote allows Mayor Garcetti to begin negotiations with the U.S. Olympic Committee, but it doesn’t financially obligate the city to anything just yet. It remains to be seen how much money the city could be on the hook for, what backing might come from the state and what LA’s chance even are of beating out other contenders like Paris, Rome, Hamburg and Budapest.

LET US KNOW WHAT YOU THINK -- YOU CAN JOIN THE CONVERSATION ON TWITTER UNDER THE HASHTAG LA2024

Guests:

Brian Watt, KPCC reporter covering the local economy and workforce; he’s at the Mayor’s press conference

Zev Yaroslavsky, former Los Angeles County Supervisor, and is now affiliated with the UCLA’s history department, and the Luskin School of Public Affairs

Andrew Zimbalist, Professor of Economics at Smith College and author of the new book, “Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup” (Brookings Institution Press, 2015)

David Wallechinsky, president of the International Society of Olympic Historians

Ed Hula, Editor in Chief, Around the Rings, a publication based in Atlanta, Georgia devoted to covering the Olympics