State Financial Guarantee If Chicago Selected U.S. Candidate
13/04/2007 |
 |
 |
The Associated Press reports that if Chicago is selected the U.S. candidate for the 2016 Summer Olympic Games, Governor Rod Blagojevich said Wednesday he wants to persuade state lawmakers to pass a $150 million financial guarantee to back the city?s bid.
Blagojevich said, ?why wouldn?t the state back the city and private investors for the Olympics? You got to think big, man?.
The Governor said the money would come out of the state?s general revenue and would only be used if the Games lost money and other backup funds were used.
In a March 28 letter to the city?s chief Olympics organizer Blagojevich wrote, ?I will seek to introduce such legislation promptly after Chicago is selected as the United States? applicant for the 2016 Games and use all my efforts to see that it is passed before the Illinois General Assembly?s summer recess begins at the end of May 2007?.
Chicago 2016 spokesman Patrick Sandusky said, ?we are happy to have the state?s support on backing the bid, although we don?t anticipate having to tap into this guarantee?.
Blagojevich said it was a ?no brainer? to back the Games because of the prestige and economic opportunity it promises to bring the city and state. He said, ?the Olympics is a bid deal?.
(Source: Gamesbids.com)
|
| Back |
|
|
|
|
 |
