Now the sport has a chance improve on those already heady figures after the decision was made to retain it for the 2024 Games, recently confirmed as coming to Paris. "If it is declared non-compliant this will be a totally different situation", IOC President Thomas Bach said at the body's session meeting in Lima.
'It is hard to imagine something better.
The last Olympic Games in Los Angeles were held in the summer of 1984.
The IOC selected Tokyo to host the next Summer Olympics, in 2020.
"As a three-time Olympics host, we intend to make sure that all of the participants feel that they are welcome and have a great experience with us", he added.
North Korea's International Olympic Committee member, Ung Chang, said he hopes the Olympics will go on as planned, but that nobody knows whether South Korea will be safe for the Olympics.
And with the decision being universally supported, World Rugby stated that the global rugby family has taken to social media to mark the recommendation using the #Rugby7s, expressing excitement and looking forward to a trip to Paris in 2024.
Paris and LA had been the only two candidates for the 2024 Games after Hamburg, Rome and Budapest withdrew from the race.
Vladimir Andreff, a sports economist at Paris' Sorbonne university, described Olympic budget inflation as "the curse of winning an auction".
Paris 2024 bid co-leader Tony Estanguet was overcome with delight just moments after International Olympic Committee members unanimously approved a joint award that had been agreed in July.
Both the 2014 winter Games in Russia's Sochi and the 2016 Rio de Janeiro Olympics were mired in controversy over corruption, embezzlement and doping allegations, dealing a major blow to the reputations of the event and the IOC.
The official cost of the London Games rose to 8.77 billion pounds, or 9.8 billion euros/$11.6 billion at today's exchange rates, from an initial bid estimate of around half that figure. "The achievements of the LA84 Foundation under Anita's leadership will serve as a blueprint and an inspiration to us as we look to kick-start a fresh Olympic and Paralympic legacy in the build-up to LA's first Games in a generation".
Sykes noted that Los Angeles 1984 Olympic Games marked the return of China to the Olympics after the IOC restored the Chinese Olympic Committee as a full member.