Los Angeles on Monday agreed to host the 2028 Olympics, clearing the way for Paris to hold the 2024 Games, AFP reported. Both cities had been bidding for the 2024 event.

The International Olympic Committee welcomed Los Angeles’ move and pledged to contribute $1.8 billion (approximately Rs 11,541 crore) to the organising committee.

“I am proud to announce the Olympic Games are coming back to the United States of America,” Los Angeles Mayor Eric Garcetti said at a ceremony at the StubHub Center. “In 2028, we are bringing the Games back to LA, one of the great capitals of the Olympic movement, a city that has always been a Games changer and will be again in 2028.”

In June, the IOC had voted to name the hosts for successive Games. Only Paris and Los Angeles had bid for the event, and it was then unclear which one would host the Games in which year as both had wanted to host the 2024 event. Their Olympic committees had been given time till September to come to an agreement.

Tokyo will host the 2020 Olympics.