LOS ANGELES — Los Angeles Mayor Eric Garcetti said Friday he is optimistic the city can reach an agreement with the International Olympic Committee next week that will result in Southern California hosting a third Olympic Games.

While Los Angeles officials have spoken to the IOC about hosting the 2024 Games, negotiations have primarily focused on Los Angeles holding the 2028 Olympic and Paralympic Games. The parties are headed toward an agreement in which Paris would host in 2024, with the Games returning to Southern California four years later, according to persons familiar with the bid process.

“We’re getting close, very, very close,” Garcetti told the Southern California News Group after a Metro event Friday morning. “Our conversations have been going very well. This coming week we should probably have things (settled) but I thought two weeks ago we’d have a (agreement).

“Both cities have talked to them about ’24 and ’28, so ’24 is not off the table, but we have talked about what we would need to engage (for) ’28.”

A Los Angeles City Council subcommittee on the city’s Olympic bid is scheduled to meet next Friday.

“I’m optimistic” that an agreement could be reached “by next Friday, for sure,” Garcetti said.

The negotiations follow the IOC voting unanimously this month to award two Games in the same year for the first time since 1921.

“No hangups,” Garcetti said of the talks. “The negotiations have been friendly and mutual. It’s just they have their systems and we have our needs but things are going great. We have both been able to engage with them. I know Paris has engaged with them too. It has been a very harmonious negotiation, I’ll say that.”

A deal would still need to be approved by the Los Angeles City Council, the USOC executive board and the IOC. City council and USOC approval are expected to come next month.

The IOC is expected to approve the joint host city award agreement on Sept. 13 in Lima, Peru.

Discussions on the Los Angeles/Paris deal began just hours after the IOC approved the joint awarding plan on July 11 in Lausanne. Even before the vote, Garcetti, LA 2024 chairman Casey Wasserman and USOC officials indicated they were receptive to hosting the 2028 Games. The Los Angeles stance was in direct contrast to Paris officials who insisted they were interested only in hosting the 2024 Games, in large part because of concerns about the limited availability of land proposed for the Olympic Village and a desire to hold the Games on the 100th anniversary of the 1924 Olympics.

Once an agreement on the 2028 Games is reached, the deal will presented to the city council. The council’s sub-committee on the Los Angeles Olympic bid chaired by council president Herb Wesson would likely review the agreement before it is presented to the full council.

City and state officials are focused on the extent Los Angeles officials can negotiate addition financial concessions out of the IOC to offset concerns about agreeing to host Games 11 years away.

“One issue to consider, if the IOC provides financial inducements of some sort for 2028, is whether those inducements will make it less likely that the 2028 Games experience financial shortfalls,” said Jason Sisney, the state’s chief deputy legislative analyst. “Whether Los Angeles hosts the 2024 or 2028 Games, there will be many twists and turns in executing the plan over the next seven or 11 years. Sticking to LA 2024’s bold, low-risk plan is likely to require strict discipline by bid organizers and the city, working cooperatively with the IOC and sports federations.

“With the state government as a possible financial partner for 2028, we at the LAO (Legislative Analyst’s Office) will be interested in whether any deal with the IOC increases the Games’ financial cushion. While the LA 2024 plan is refreshingly low-risk, we would be most pleased if the initial 2028 plan carries even less risk. The reason: 2028 is a considerably more distant option – with all the unknowns that come with that – and managing risk should continue to be a priority for both the city and the state.”

Garcetti has also expressed the need for financial concessions from the IOC, and funding from the IOC and its leading sponsors has been a leading topic in the negotiations.

The IOC will contribute to the 2024 host city nearly $1.5 billion — $855 million from television revenue and $453.5 million from its TOP Sponsors program and corporate partners like Coca-Cola and Visa, according to bid documents. The IOC evaluation commission report projected Los Angeles receiving $1.12 billion from the IOC and its top-level sponsors, according to an IOC evaluation commission report.

The city council approved a Memorandum of Understanding between the city and Los Angeles 2024 in January that gave the council a role in the planning of the 2024 Olympic Games and the city protection against an unexpected financial deficit had Los Angeles been awarded those Games. Los Angeles’ bid for the 2024 Games came with balanced $5.3 billion budget.

City officials have said the council would require a similar agreement for the 2028 Games.

That agreement required LA 2024 to establish an allocated contingency fund of at least $250 million. The fund would have been used only with the city’s written consent. The fund would have been created out of the $487.6 million that LA 2024 plans to set aside for contingencies.

Security costs for a Los Angeles Olympics would be covered by federal funding with costs reaching as much as $2 billion.