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Los Angeles reaches agreement to host 2028 Olympics

The Los Angeles 2024 logo is painted on the field at the Rose Bowl Stadium, a proposed Olympic venue, Wednesday, May 10, 2017, in Pasadena, Calif. Los Angeles Olympic organizers are putting their plans on display at a time of uncertainty in the race for the 2024 Games. Members of the International Olympic Committee are in Southern California this week to inspect stadiums and arenas that could become future Olympic Games venues. (AP Photo/Jae C. Hong)

WASHINGTON (SINCLAIR BROADCAST GROUP) -- The city of Los Angeles has agreed to host the Summer Olympics in 2028 rather than 2024, opening the door for Paris to host the earlier games, The Los Angeles Times reported Monday.

After the International Olympic Committee awarded both municipalities the right to host, the three parties have debated the decision for weeks.

This will be the third time Los Angeles will stage the international event.

The race for hosting honors was especially competitive this year. Though the right to stage the games is usually decided one event at a time, the IOC decided in June that Los Angeles and Paris were such strong candidates that the committee would award the honors to both.

The California city was projected to demand youth sports funding and the address of other financial terms, The Washington Post reported. However, the exact terms of the deal -- which has not yet ben officially announced -- are still unknown.

The IOC is expected to officially announce the move later Monday, and will host a news conference scheduled for 8 p.m. ET.

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