CHICAGO MAKES PITCH TO HOST 2016 SUMMER OLYMPICS

Chicago joined three other cities on Wednesday morning in presenting their case for hosting the 2016 to the International Olympic Committee in Lausanne, Switzerland.  In the past, cities bidding for the right to host the Olympic Games would host IOC delegates but that practice was abandoned after a number of improprieties surfaced around Salt Lake City’s successful 2002 Winter Olympics bid.  Instead, the finalists now travel to IOC headquarters and make a pitch to the assembled delegates.

Chicago’s hour long presentation and question/answer session was led by bid leader Pat Ryan and the city’s mayor, Richard J. Daley.  In their presentation, they emphasized Chicago’s sound financial backing as well as the support of US President Barack Obama.  Pat Ryan detailed the extent of ‘The Windy City’s’ financial resources to host the games:

"The city of Chicago has put up guarantees of $500 million and the state of Illinois has legislation for $250 million. We are very comfortable that we can bring from the private sector additional resources that will take the guarantees up to the $2 billion range, and that that is more than adequate." 

While the IOC is well known for a strong anti-American bias, executive committee member Mario Pescante of Italy was pleased with what he saw from the Chicago delegation”

"I have seen lots of presentations by American cities over the years. This time it was different. They were more accessible and low-profile. It was important to stress the sports issues. In the past, it was more Hollywood style."

Rio de Janeiro, Brazil is hoping to bring the Summer Olympics to South America for the first time.  In their presentation they noted the fact that the continent had never hosted the games, along with their selection for the 2014 soccer World Cup.  Brazilian Central Bank President Henrique Meirelles gave his assurances of the country’s financial stability:

"Brazil is expected to come out of this crisis growing, in a sustainable way. Our investments are coming back to Brazil. All of that provides assurance that Brazil is in a position to entertain this and take advantage of the games economically."

Most consider Chicago to be the front runner and Rio the long shot choice to host the games.  Also in contention are Tokyo, Japan and Madrid, Spain.  Of these entrants, Tokyo has the best chance of beating out Chicago for the right to host the 2016 games.   Their bid leader, Ichiro Kono, emphasized Japan’s economic infrastructure as perhaps the most solid of the competing cities:

"Tokyo offers the most secure financial foundation for the games. Let there be no mistake: $4 billion is in the bank today."

The lobbying efforts will continue later this week, when the host cities will set up exhibition rooms at a local hotel where delegates can meet with bid officials individually.  A final vote will be held in early October to determine where the 2016 Summer Olympic Games will actually take place.