Los Angeles’ bid to host the 2024 Olympic Games comes with a $6.4 billion price tag, according to a report released Tuesday by Mayor Eric Garcetti’s office.

Of that projected budget, all but $1.7 billion would be covered by the Organising Committees for the Olympic Games, according to the report. The balance would rely on a significant commitment “from the business community, outside of the OCOG budget, (to) help fund the necessary development.”

After a projected $800 million facelift, the Los Angeles Memorial Coliseum is slated to act as the centerpiece and home of the opening and closing ceremonies, just as it was for the 1932 and 1984 Olympics. The University of Southern California, which holds the long-term lease to the Coliseum, would kick in $500 million of that cost, with the various organizing committees contributing the balance.

The report, prepared by Los Angeles 2024 Exploratory Committee, an organization led jointly by local sports entrepreneur Casey Wasserman and the Mayor’s Office, projected that the games would generate $4.83 billion in revenue from sponsorships, naming rights, ticket sales and the like. That, LA24 said, would be enough to post a $161 million profit for the international organizing committees.

The $1.7 billion in outside investment, including the $500 million that would be spent by USC, was not accounted for in the profit projections.

The report was provided to the City Council Tuesday.