Oh Look, Another City Passed on Hosting the 2024 Olympics

The Hungarian government confirmed Wednesday that Budapest's bid has been withdrawn, leaving Paris and Los Angeles as the only remaining contenders, the BBC reports.

Hungarian government officials told the Associated Press the Hungarian Olympic Committee made the decision to withdraw in conjunction with Budapest's mayor and Prime Minister Viktor Orban, although a formal vote by city leaders is still pending.

Budapest's move was announced after the sports-mad Orban, a big champion of the bid, held talks with Budapest mayor Istvan Tarlos and the Hungarian Olympic Committee on Wednesday evening.

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Fidesz, Hungary's governing body, said that the country's bid had a small chance of succeeding. "I hope people don't feel it is the only way they can protest as there will be protests next year in our elections, but I think many people are disappointed with the government and the opposition".

An Olympic themed monument stands beside the California state flag at the Los Angeles Memorial Coliseum after rival Budapest dropped its bid for the 2024 Olympics, in Los Angeles, California on February 22, 2017.

This latest withdrawal, due to financial concerns, follows similar abandoned bids from Rome, Hamburg, Boston, and a rash of expected bids that did not manifest (including Melbourne, which is likely to instead focus any bid attention on the 2028 or 2032 Olympics).

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The Hungarian capital's withdrawal leaves the race to stage the 2024 Games between Paris and Los Angeles.

Bidding for the 2022 Winter Olympics came down to just two finalists in 2015, Beijing and Almaty, Kazakhstan, after Oslo dropped out months before the Games were eventually awarded to the Chinese city. These included the city being seen as a model for the IOC's "Agenda 2020" reforms to streamline events and cut costs and the fact that both Los Angeles and Paris have each already hosted the Summer Olympics twice.

The host country for 2024 will be announced at the International Olympic Committee meetings in Lima, Peru, on September 13.

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