Acknowledging that it has a challenge “because we’re raising money in a real though time”, Bay Area Sports Organizing Committee (BASOC) CEO Anne Cribbs estimates the organization must raise another $1.5 million, assuming that San Francisco’s bid is on the USOC short list for the 2012 Games.
During the glory days of the dot-coms two years ago raising $1.5 million would not have been a problem for BASOC.
BASOC estimates a local Olympics would cost $2.4 million. The committee, which is now concentrating only on the money it must raise for the bid, has accumulated $2.5 million to date plus $300,000 in pledges. In-kind donations are near $2.3 million.
Cribbs said, “we didn’t want to be the Coca-Cola Olympics”, alluding to the 1996 Atlanta Games that were criticized for their commercialism. “We have a little support from a lot of people”.
