Budapest to withdraw bid to host 2024 Summer Olympics
By Associated Press
Feb 22, 2017 1:29 PM CST
President of the Hungarian Olympic Committee Zsolt Borkai addresses the General Assembly of the City of Budapest with Budapest Mayor Istvan Tarlos in the background in the town hall in Budapest, Hungary, Wednesday, Feb. 22, 2017. (Zsolt Szigetvary/MTI via AP)   (Associated Press)

BUDAPEST, Hungary (AP) — Budapest will withdraw its bid to host the 2024 Summer Olympics, leaving only Los Angeles and Paris in the race.

Hungarian government spokesman Zoltan Kovacs confirmed the withdrawal to The Associated Press on Wednesday. The joint decision by Prime Minister Viktor Orban, Budapest Mayor Istvan Tarlos and the Hungarian Olympic Committee will be formally voted on by the Budapest City Assembly.

Fidesz, the governing party, said the decision was made to avoid "a loss of international prestige" for Hungary, saying the bid had a very small chance of success.

The bid was expected to face a city-wide referendum promoted by a new political party, which gathered more than 266,000 signatures in favor of holding the vote.

The International Olympic Committee will choose the host city in September.

See 1 more photo