(Crain’s) — It’s official. Chicago formally threw its hat into the race Tuesday to lure the 2016 Summer Olympics, and officials declined to rule out the possibility that local taxpayers will have to dig even deeper to pay the costs.
The announcement came at City Hall, where Mayor Richard M. Daley and former Aon Corp. CEO Patrick Ryan, head of the city’s Olympics planning committee, said that a letter formally declaring Chicago’s bid has been transmitted to the International Olympic Committee.
The action came as no surprise. The U.S. Olympic Committee last spring selected Chicago as the American candidate to host the 2016 games. But local officials took advantage of the opportunity to beam a bit and to talk up Chicago’s prospects against Prague, Tokyo, Madrid and other famed cities that were expected to take similar actions by today’s deadline.
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