Fri 29 Jun 2007
Chicago 2016 Update: Taxpayers won’t be footing bill for Games, at least for now
Posted by Daniel under Chicago 2016
 |
Yup, I said it. Well, actually, the new money manager for the Chicago 2016 bid committee, Rick Ludwig, said it, according to a Sun-Times report.
The city and state have offered to cough up $500 million if Olympic revenues fall short, but Ludwig doesn’t think they’ll be tapped into.
Why? Bad accounting, of course…or is it honest accounting?
Ludwig said that if cities lose money because of the Games, it’s a matter of accounting. He says the costs of permanent building projects shouldn’t be included.
If he believes the city absolutely needs these changes, I understand that. But to think these changes would happen regardless of the Olympics on the same timetable, well, I think he’s mistaken.
If you enjoyed this post, make sure you subscribe to my RSS feed!
- Chicago 2016 Update: Chicago’s security status expected to limit costs
- Chicago wins U.S. Olympic bid for 2016, but at what cost?
- Chicago 2016 Update: Chicago still in hunt for 2016 Summer Olympics
- Chicago 2016 Update: 2016 Olympic bid cities announced
- Chicago 2016 Update: No hometown discount for tickets?
