The International Olympic Committee has announced five finalists under consideration to hold the 2024 Summer Olympic Games. Four of the cities are in Europe. They are Budapest, Hamburg, Paris and Rome. The fifth candidate is the U.S. city of Los Angeles, California.

IOC President Thomas Bach called the candidates outstanding cities. This is the first Olympics planned under reforms that should reduce the cost of the event. Mr. Bach says the International Olympic Committee will donate $1.7 billion to the event. The final decision for which city will host will be made in 2017. The final decision for which city will host will be made in 2017.

Im Jonathan Evans.