There are reports that Chicago Mayor Richard Daley has sent emissaries on scouting missions for possible venues and is expected to reveal who will lead an investigation into whether Chicago should submit a bid to become the U.S. candidate for the 2016 Summer Olympic Games.
Whoever is picked will work to determine how much the Games might cost and where the money would come from.
However United States Olympic Committee head Peter Ueberroth said last week that unless there is a strong commitment from all levels of government no American city will bid for the 2016 Games. He added that a decision as to a U.S. bid would be made within the next six months.
Experts say bringing the Games to Chicago would do little more than burn up millions in tax dollars.
Michael Leeds, an associate professor of economics at Temple University said, “almost any economist is going to tell you it’s a bad deal. It’s a bad deal for the taxpayer. It’s a bad deal for the typical Chicago merchant. Almost every Olympics runs a deficit”.
Marc Ganis, of Chicago-based sports marketing company SportsCorp. Ltd. said Chicago has the right mix of factors that could put it at the top of the list of U.S. cities hoping to host the Games. Along with hotels, transportation and available land, there is a strong corporate base from which to solicit potential financial support.
“I think Chicago would be the best city in the United States to host the Olympics”. His company is playing a role in developing the Beijing 2008 Summer Games.
Leeds said the benefits of hosting an Olympics are overstated and the costs are understated. “Most of these mega-events, whether they are Olympic Games, World Cup soccer or Super Bowls, don’t have much of an impact”.
He added there is no doubt hosting the Olympics might be positive for Chicago in terms of generating goodwill and civic pride. And it could be a galvanizing force behind completing some projects, whether they’re new dormitories for universities, new sporting venues or new roads.
“But it shouldn’t be sold to the people as an engine for economic growth”, he said.
