USOC won’t seek $25 million bailout penalty from Boston
BOSTON (AP) — Oh, about that $25 million. Don’t worry about it, Boston.
A U.S. Olympic Committee official said the federation will not pursue payment under a clause in its contract with Boston that put the bid on the hook for $25 million if it pulled out of the running.
The USOC and Boston 2024 leaders mutually agreed to end the bid Monday, opening the door for the USOC to possibly choose another city before the Sept. 15 deadline.
Technically, the USOC could have pursued the payment because Boston was involved in the decision to pull out. Bid organizers had purchased insurance to protect against the possible penalty.
But USOC spokesman Patrick Sandusky said: “Boston gave its best shot in bidding for the Olympic Games. The USOC will not be seeking this fee.”