Chicago 2016 Kicks Off Host City Bid Presentations To IOC

(l to r) Ctvrtlik, Ryan, Doug Arnot, Healey, Daley and Michael Conley After Presentation

SIGN ON THE DOTTED LINE: Chicago Mayor Richard Daley this morning said that Chicago 2016 has agreed to "sign the Olympic host city contract with no modifications," removing a "major point of contention" from the city's bid. Daley: "We are going to sign it as is." Chicago 2016 President Lori Healey said that the city has a "commitment for a private guarantee of a 'minimum'" $500M that will allow it to "overcome legal issues with signing the contract." IOC members Juan Antonio Samaranch Jr. and Thomas Bach called Chicago's decision to sign the contract "very important." Hersh notes no city in the "last quarter-century has won the Games without a blanket guarantee to cover all the financial risks," and the other three bid cities -- Madrid, Tokyo and Rio de Janeiro, all "have done so." Signing the IOC host city contract "could be seen as making the guarantee unlimited." Chicago 2016 in a letter to IOC President Jacques Rogge earlier this year "had asked for an acknowledgment of revisions in the host-city contract so that the city's liability is limited" to the $500M it has pledged as a guarantee (CHICAGOTRIBUNE.com, 6/17). In Chicago, Hersh & Bergen note the financial guarantee issue had "faded into the background this spring" after Rogge said that "limited government financial guarantees would not derail the bid and expressed confidence that Chicago could provide a strong guarantee." However, Chicago 2016 Chair Pat Ryan said that his bid team has "received a letter from the IOC stating that all host cities must sign the standard contract, which requires them to take full financial responsibility for the Games," which was "not what Chicago was seeking" (CHICAGO TRIBUNE, 6/17).

Rogge Says Sponsorship, Marketing Possibilities Should Not Affect Race For '16 Games

TWO FOR THE SHOW: Rogge yesterday also cleared up "confusion over voting for new sports to join the Olympics, saying only two of the seven bidding to join the program will be considered" at the IOC's October vote in Copenhagen. Rogge issued the clarification in response to "speculation swirling" around IOC HQs that the five sports not chosen for entry to the '16 Games "might have the chance to be reconsidered for the 2016 program in another vote at the session if the two sports are rejected." Rogge: "The procedure is very clear. There will be no other proposals" (AROUNDTHERINGS.com, 6/16).

Print This Article