Chicago 2016 says it’s proud of the evaluation it got from the International Olympic Committee. The countdown is in full effect. In 30 days, Chicago finds out if it will be the host city.
Based on its April visit to Chicago, the IOC reported that the city didn’t have a full guarantee covering potential economic shortfalls from the Games.
Since then Chicago organizers have pledged additional insurance to protect taxpayers from footing any financial losses.
Chicago 2016 CEO Pat Ryan says in hindsight this question of finance should’ve been addressed sooner. He says there’s nothing the committee can’t resolve within the next month.
RYAN: We’re certainly going to communicate to the IOC membership all of we think is relevant to the report. We’re going to communicate very quickly the disposition of the issues raised.
“Ambitious but achievable” is how the report described Chicago’s bid.
The three other finalist cities – Madrid, Rio de Janeiro and Tokyo – also received praise and criticism from the IOC.