U.S. Olympic leaders offer apology for failed Boston bid

The event was billed as a chance for LA 2024 bid leader Casey Wasserman to meet with sports officials from across the nation and sell them on the city’s proposal for hosting the 2024 Summer Games.

But first the U.S. Olympic Committee assembly needed to address a less-pleasant issue.

Speaking before a large audience in a hotel ballroom down the street from their headquarters, USOC leaders apologized at length for initially choosing Boston as their bid city and backing what they now characterize as a “risky” proposition.

“I don’t want to dwell on the negatives of Boston, and I will not offer any excuses for what happened,” USOC Chief Executive Scott Blackmun said. “But I do think you are entitled to an explanation.”

Boston’s erstwhile campaign collapsed under consistent public opposition in late July, opening the door for Los Angeles to step in as a last-minute replacement.

Blackmun said he and other USOC executives knew they faced a challenge in Boston, but believed — as did some Massachusetts politicians — that residents would eventually support the bid.

“The question is, should we have taken the risk?” Blackmun said. “In hindsight, the answer is no.”

There was no mention of Wasserman’s assertion last month that USOC staff originally favored Los Angeles, only to have the board of directors vote otherwise.

USOC Chairman Larry Probst said International Olympic Committee members around the world were “surprised and somewhat disappointed” by the negative headlines in Boston, but supported the U.S. switching to another city.

“As we know,” Probst said, “Olympic bids are all about timing.”

At which point, Wasserman took the stage.

First came his memories of attending the 1984 Summer Games in Los Angeles as a boy, then the announcement that Olympic swimmer Janet Evans had been named as a vice chair of the bid committee. He soon reverted to a familiar theme, emphasizing the proposed use of world-class venues already in place.

According to the plan spearheaded by him and Mayor Eric Garcetti, the Games would cost $4.1 billion with an additional $150 million for insurance premiums and a $400-million contingency fund.

Private-sector investors would need to contribute more than $1.7 billion for modifications to the Coliseum and construction of an athletes’ village and media center.

Garcetti has estimated that billions in television, sponsorship and ticket revenue would not only cover costs but also generate a surplus. Still, if selected by the IOC in the summer of 2017, the city would be required to sign a contract promising to spend taxpayer dollars if the Games finish in debt.

“LA 2024 will maximize existing facilities, reducing both costs and risk by building as little as possible,” Wasserman told the Colorado audience.

His afternoon address represented only the start of a busy visit. By sundown, he was making the rounds at a reception in the hills, then dining with sports officials.

On Friday morning, he was scheduled to meet with the board before flying home.

Further work awaits him in Los Angeles, where he said negotiations continue over a “memorandum of understanding” that would obligate the bid committee to bring key future contracts with the USOC and the IOC before the council for approval.

As for L.A.’s chances against an international field of competitors, Wasserman dismissed speculation that Los Angeles ranks with Paris as an early front-runner.

“I have no illusion that winning the 2024 Games will be an easy task,” he said. “I would caution against that type of thinking … it is reckless and even arrogant.”

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