Boston '24 on Friday "issued its first quarterly progress report on its bid operations and finances, highlighting millions in funds raised and spent on a slew of staffers, consultancies and related work to support its Olympics pitch," according to the BOSTON BUSINESS JOURNAL. Among the report's info "was a breakdown of Boston 2024 staff, by title and salary, as well as a list of the organization's financial donors and in-kind contributors to date." The group has raised approximately $14M "in cash and in-kind donations since its inception" in January '14. Some $3.9M of that money and support "was raised in the first quarter that ended March 31." Among the notable names included in the donor list was Patriots Owner Robert Kraft, who "contributed between $100,000 and $499,000 since 2024's inception." Kraft's inclusion "is notable given that his name was also among the organization's founding members." However, he has since "been rumored to be a potential obstacle to the Boston 2024 plan to bring an Olympics Stadium to South Boston." According to the Q1 report, Boston '24 spent just over $2M, "including salaries and administration, marketing, venue selection, transportation planning and other expenses." The organization "expects to spend" $4.5M per year on bid-related contracts, and spent $1.1M "in the first quarter alone" (BIZJOURNALS.com, 6/5). In Boston, Adam Vaccaro noted Kraft "was listed on the incorporation documents for Boston 2024 but has been very quiet about the bid since then." Other local sports leaders "have also been involved." Celtics co-Owner & Managing Partner and newly named Boston '24 Chair Steve Pagliuca and Celtics Managing Partner & CEO Wyc Grousbeck "each donated to the group," as did Bruins CEO Charlie Jacobs. The records "do not show" that Red Sox Owner John Henry donated (BOSTON.com, 6/5).
GOOD INTENTIONS: In Boston, Dan Shaughnessy wrote Boston '24 in six short months "has become a punchline." The group "needs to be put out of its misery," and the "sooner the better." Shaughnessy: "Count me as a fan of the well-meaning folks who are trying to bring the Olympics to Boston." Pagliuca "is a swell guy." Former Boston '24 Chair John Fish wants the group's work "to be his legacy." And Mayor Marty Walsh "wants to do good things" for the city. But "bathed in good intentions and naivete, these smart, accomplished men have succumbed to Olympic folly." If the USOC "doesn’t like what Boston is offering by September, the committee can switch" to L.A., or announce that the U.S. "will not put forth a bid city" for the '24 Games. Pagliuca insisted, "The USOC has given us assurances that Boston is their city of choice." Shaughnessy: "Meanwhile, we wait for Boston 2024 to show us something, anything, that will turn the tide of negativity that appears to be killing this process" (BOSTON GLOBE, 6/7).
