The two cities, which were considered the leading bids to host the '24 Games, had already agreed to alternate as hosts and the executive board, which is meeting this week in Lima, Peru, approved the lineup.
The IOC decided in July to award both Games at the same time, following the withdrawal of four of the six cities bidding for the 2024 Olympics, amid concerns about the size, cost and complexity of organising the world's biggest multi-sports event. IOC President Thomas Bach eventually had to make the decision to award 2024 and 2028 simultaneously. The IOC chose to award two games at the same time in a history-making vote, putting the rubber stamp on the pre-determined conclusion. Paris will also get to host on the centennial anniversary of the 1924 Olympics.
Tokyo will have five new sports - also including karate, skateboarding, sports climbing and surfing - as the International Olympic Committee looks to boost the Games' appeal among a younger audience. The unprecedented deal for L.A.to host the 2028 Olympics and Paris to host the 2024 Games was struck back in July.
Congratulations to Paris 2024 and Los Angeles 2028.
"These are two great cities from two great countries with a great Olympic history", he said in a statement. It's a badge of honor for the French capital, which lost its last three bids to host. It will contribute $1.8 billion for planning and organizing the Games with the potential to exceed $2 billion through existing sponsorship agreements and potential new marketing deals.
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The city's quest to host its third Games has been filled with plenty of twists and turns.
Both cities made presentations with speeches and videos.
The Los Angeles planning committee estimates that the games will cost $5.3 billion. "The phenomenally talented LA28 team has worked tirelessly for more than three years to deliver on our promise to create a new Games for a new era".
Paris was a finalist for 1992, 2008 and 2012.
In January 2015, the USOC initially selected Boston as the U.S.'s candidate.