USOC pulls out its bid for the 2020 Summer Olympics

August 23rd, 2011 - 7:31 pm ICT by Aishwarya Bhatt  

New York, Aug 23 (THAINDIAN NEWS) The US Olympic Committee has announced that the country will not bid for the 2020 Olympic Games. The USOC lost the bid to host the 2012 and 2016 events and the committee was expected to place a bid for the 2020 edition.

Cities like Chicago, Dallas and New York all indicated that they wanted to host the 2020 Summer program. USOC’s negotiations with the International Olympic Committee reportedly broke down and the various cities interested in hosting the event have been notified.

The USOC was involved in negotiating revenue-sharing agreement with the IOC. Disagreements between the two sides was deadlocked in talks and the talks eventually broke down, The Associated Press has reported.

Under IOC rules, interested cities are expected to place their bid before the 1st of September. The last time that the United States hosted the four-year game was in 1996 at Atlanta.

London will be hosting the next Olympic Games in 2012. The Chinese city of Beijing hosted the event in 2008 and the manner that the event was hosted has ‘scared’ several cities into hosting the event.

With the current shape of the world economy, not many cities have the luxury of hosting the games.

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