Budapest to withdraw from 2024 Olympic race

Budapest is reportedly dropping out of the running, leaving just two cities in contention and an International Olympic Committee that's finding it increasingly hard to find viable and interested hosts.

Hungarian governing party Fidesz said Budapest's bid had a very small chance of success, and the decision came to avoid "a loss of global prestige" for the country, the AP reported.

According to David Wharton of the Los Angeles Times, Paris and Los Angeles will now have "candidates travel the world to pitch their case directly to International Olympic Committee members".

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The 2024 selection process once included cities such as Rome, Hamburg and Boston, and they all pulled out of the running early, largely because they lacked public support.

The other two cities left now are Paris and Los Angeles.

After local opponents of the candidacy last week submitted a quarter of a million signatures on a petition for a referendum on the bid, Tarlos suggested the city might quit the race.

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"As LA 2024 enters the global campaign, it's important for us as a city to remember just what we're bidding for: the world's greatest sporting event, significant economic benefits, and a chance to place L.A.'s extraordinary creativity and innovation at the service of the Olympic Movement", Mayor Eric Garcetti has said.

The chairman of Budapest's bid, Balazs Furjes, pushed for a quick decision. Both cities have hosted the Games twice, though Los Angeles (1932, 1984) has done so far more recently than Paris (1920, 1924).

Wednesday's council resolution is due to authorise Tarlos to discuss the bid with the national government and Olympic committee.

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The IOC will select the host city at a vote in Lima, Peru in September 2017.

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