IOC Skirts Chicago 2016 Cost Overruns Issue

International Olympic Committee (IOC) Nawal El Moutawakel, head of the IOC Evaluation Commission, said Tuesday following the IOC commission’s inspection of Chicago 2016 that the IOC team was “most impressed” by what it saw during it’s four-day visit, but USA Today reports she was much less precise on Chicago’s possible Achilles’ heel. Chicago, unlike its three opponents, doesn’t have a blanket guarantee that government will cover all cost overruns.

El Moutawakel said, “we have been given a lot of guarantees over the past days and all the guarantees will be thoroughly studied. We cannot give further details”.

USA Today reports bid officials have put together a $1.2 billion safety net, a combination of city and state guarantees, private insurance and a contingency fund. IOC President Jacques Rogge reportedly said last month the form of guarantee is not an issue.