Los Angeles has promised to hold the 2024 Olympics on a shoestring budget, in a reversal of recent trends which have seen a huge blowout in the costs involved in staging the Games.
LA bid officials insist $US5.3 billion ($A7.1 billion) will be enough to cover both operational and infrastructure costs for an Olympics that won't need any new, permanent stadiums.
There is also a $US491 million ($A657 million) contingency fund that would cover cost overruns.
The cost would be less than half that of the recently completed Rio Games and about a quarter of Tokyo's ballooning budget for the 2020 Olympics.
It also defies convention in the Olympic bidding business, in which cities traditionally deal with two figures - one for operational costs and one for "non-Olympics" costs that cover capital and infrastructure.
Bid officials say they can do this because more than 30 venues already exist in the LA area and those that don't will be built as temporary structures.
"If LA is chosen to host the 2024 Games, the IOC does not have to worry about changing or evolving budgets, shifting competition venues or uncertainty about the delivery of the Games," bid chairman Casey Wasserman said.
Decades of runaway budgets have greatly reduced interest from major cities in hosting the Olympics.
Los Angeles is going against Paris and Budapest, Hungary, with the winning bidder to be announced in September 2017.
Preliminary figures for Paris called for an infrastructure budget of $US4.5 billion ($A6.0 billion) and operational costs of $US4.8 billion ($A6.4 billion), with 95 per cent of the city's proposed venues either temporary or already in existence.
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