Paris announces 2024 Olympic bid

Paris joins Boston, Hamburg and Rome as candidates to host the 2024 Summer Olympic Games. 
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Paris celebrated Olympic Day by announcing the city's bid for the 2024 Summer Olympic Games on Tuesday morning. 

The 2024 bid race already includes Boston, Hamburg and Rome. Odds makers in the United Kingdom have tabbed Paris as the 5-4 favorite to host the Summer Games. Boston has the next best odds at 9-4.

Paris hopes to host the Olympics 100 years after the city last staged the event in 1924. Paris failed to win bids for the 1992, 2008 and 2012 Olympics.

The deadline for a city to submit its candidacy is Sept. 15, and Budapest is among other cities expected to join the race soon.

A final decision on the 2024 host will be made by the International Olympic Committee in 2017. 

Paris deputy mayor in charge of sports, Jean-Francois Martins, has said it could cost $4.5 billion for infrastructure and another $4.8 billion in operational costs to host the 2024 Games.

Budapest city council backs proposed bid for 2024 Olympics

- Christopher Chavez