 The Olympic bid team wants the state to up its financial guarantee
from the $150 million in taxpayer funds pledged in 2007 by ousted
Gov. Rod Blagojevich to $250 million.
The request comes amid concerns Chicago's bid is at a competitive
disadvantage because it doesn't include the full government
guarantees offered by rival finalists Tokyo, Madrid and Rio de
Janeiro.
Gov. Patrick Quinn's spokesman, Bob Reed, told the Chicago
Tribune the governor supports the request for the additional $100
million.
The bid team has already lined up $500 million in city guarantees
and $500 million in private insurance to cover any potential losses
in operating the games.
[Associated Press]
Copyright 2009 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed. |
