Chicago 2016 Has $23M Remaining For Next Phase Of Olympic Bid
Chicago 2016, the committee leading the city's bid effort for the 2016 Summer Olympics, in the FY ending June 30, 2007, spent "about $9[M] on the domestic phase of its campaign, ... leaving some $23[M] as start-up money for its expected entry into the international phase," according to tax filings cited by Philip Hersh of the CHICAGO TRIBUNE. The committee's "biggest line item, $5.4[M] for 'bid-related expenses,' included $5[M] to the [USOC] for use of USOC staff members and other USOC costs related to all phases of the bid." About one-third of Chicago 2016's expenses, $2.6M, "came from contracts with management consultants, since it had no paid employees as of June 30." PR firm Hill & Knowlton was the "highest-paid independent contractor," at $924,134, while Douglas Smith, Chicago 2016 Chair Patrick Ryan's "right-hand man'' until leaving in June, was the highest-compensated individual consultant. The committee now has about 36 paid employees, though Chicago 2016 would not disclose their salaries (CHICAGO TRIBUNE, 5/17). In Chicago, Fran Spielman reported Chicago 2016 has raised $32.7M total, and the $22.4M left over is a "running start on the $49.3[M] needed to compete internationally." Committee officials are planning a July 14 fundraiser in Millennium Park in Chicago for "needed funds to get to the finish line." The filing shows that other compensated consultants include marketing consultants Gordon Kane and Mark Mitten ($220,000 apiece) and architectural firm Skidmore Owings & Merrill ($208,242) (CHICAGO SUN-TIMES, 5/17).
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