In its effort to win the Olympics, Chicago offered up the gold Tuesday, saying it will spend $49 million to bid for the 2016 Summer Games and $900 million to build Olympic venues.
But the city expects to get it all back and then some -- by generating more than $2.5 billion in revenues.
An 80-page questionnaire sent to the International Olympic Committee lifted the veil of secrecy that has surrounded Chicago's privately financed bid -- but only so far.
Missing was the total cost of staging the Games.
'We have not been asked for a budget [to put on the Games]. Understand we're not going to give you a budget today. But, we're going to be giving you very important financial highlights,' Chicago 2016 Chairman Patrick Ryan told reporters at the Chicago History Museum.
Ryan said the plan was 'responsible and realistic,' driven by private dollars, and will not require tapping a $500 million guarantee from Chicago taxpayers.
The construction total did not include the $1.1 billion price tag for an Olympic Village complex to house athletes near McCormick Place, covered by private developers, who would sell them as residences after the Games are over.
A Chicago Games would be held from July 22 to Aug. 7, with the Paralympic Games for handicapped athletes staged Aug. 18 to Aug. 28.
The average ticket would be 'less than' $75, with 45 percent of the tickets less than $50, the document said. Some 500,000 tickets would be set aside for children as part of 'Chicago's youth outreach.' Total ticket revenue was pegged at $705 million.
Organizers included poll results to show local public support and told the IOC there is 'no organized opposition' to the bid. It did allow that it is talking with groups that have 'expressed concerns.'
In addition to the ticket revenue, the $2.5 billion in projected domestic revenues includes $1.26 billion from sponsorships; $170 million from merchandising; and $222 million in other revenues, including private donations, asset disposal and other contributions.
Those figures do not include what Ryan expects to be 'substantial international television and marketing revenues' generated by the International Olympic Committee. By some estimates, those numbers could reach $1 billion.
Ryan said he's confident that Chicago's numbers are solid, even though they're higher than estimates by Madrid and Tokyo.
'We feel comfortable. It's not a slam dunk by any means. It'll be a lot of hard work. But this Midwest market -- and we are the U.S. candidate city -- we really believe that revenue is there,' Ryan said.
Ryan stressed that 22 of the 27 venues -- 81 percent -- are 'either existing or temporary.' In addition to using Chicago's existing sports venues, the plan calls for hosting 11 Olympic and eight paralympic sports at McCormick Place. About $100 million will be used to prepare existing venues to stage particular sports.
'We will build permanent structures only when there is a viable legacy of after-use for the venue. No white elephants,' Ryan said.
The questionnaire projects that Chicago will spend $27 billion on road and transit projects by 2016 on previously disclosed projects like the Star Rail Line and the CTA's Circle Line and $3 billion for projects directly related to the Games, such as buying 56 additional CTA rail cars and adding Brown Line capacity.
The transportation plan for the Games itself would rely on a network of shuttle buses and dedicated lanes, at least one of those lanes running between the Loop and O'Hare Airport.
'In some cases, entire roadways will be limited to accredited vehicles,' the questionnaire states.
Officials noted that the Games will take place during a summer holiday period when CTA ridership traditionally drops 10 percent. The document was long on civic pride, boasting of the city's lakefront beauty, its corporate community, great shopping and characterizing Chicago as a place that 'thrives on harmony.' It also noted that Mayor Daley captured 71 percent of the vote in his last election.
Chicago organizers vowed to establish price controls to prevent Olympic-related price gouging by hotels and other businesses.
The International Olympic Committee will announce the winner of the competition in October of 2009. Chicago is competing against Tokyo; Rio de Janeiro, Brazil; Baku, Azerbaijan; Doha, Qatar; Madrid, Spain; and Prague, Czech Republic.
Madrid bid leader Mercedes Coghen called Chicago's bid 'a little general,' adding, 'I think it's the little things that [the IOC] really wants spelled out.'
Tokyo was also doing a bit of boasting. 'Only Tokyo can do it, I believe,' said Ichiro Kono, head of the 2016 Tokyo Olympics Campaign Office.
NO SMALL PLANS:
The Chicago 2016 group said it would spend almost $900 million on construction, not including $1.1 billion for an Olympic Village near McCormick Place.
It will spend $100 million on existing venues to prepare them to stage the sporting events. Here's the blueprint for cost, seating and construction start dates:
Permanent venues:
Olympic Stadium, Washington Park:
- Cost: $385.9 million
- Seating: 80,000 (will be reduced after Games)
- Construction start date:
May 2013
Lakefront Rowing Course, Monroe Harbor
- $80 million
- 20,000 seats
- October 2013
Olympic Aquatics Center, Douglas Park
- $107 million
- 5,000-20,000 seats
- May 2012
Equestrian Center, Lakewood Forest Preserve near Wauconda
- $36.3 million
- 15,000-30,000 seats
- April 2014
Canoe/Kayak Course, Lincoln Park
- $41.3 million
- 14,000 seats
- May 2014
Temporary venues:
Archery, Grant Park
- $8.2 million
- 8,000 seats
- April 2016
Shooting Complex, Lake County
- $17.2 million
- 2,000 seats
- July 2014
Sailing Harbor, 31st St. Harbor
- $10 million
- May 2016
Field Hockey, Jackson Park
- $20 million
- 5,000-15,000 seats
- February 2016
Beach Volleyball, Northerly Island
- $18.1 million
- 20,000 seats
- September 2015
BMX bicycling course, Northerly Island
- $6.2 million
- 10,000 seats
- September 2015
Velodrome, Northerly Island
- $25.3 million
- 5,000 seats
- March 2015
Triathlon, North Avenue Beach
- $5.1 million
- 5,000 seats
- May 2016
Mountain Bike Course, Sag Valley Forest Preserve near Palos Park
- $5.3 million
- 8,000 seats
- May 2016
Cycling road course, Sag Valley Forest Preserve near Palos Park
- $4.5 million
- 5,000 seats
- May 2016
Tennis Center, Lincoln Park
- $25.8 million
- 2,000-10,000 seats
- February 2015
THE COMPETITION
RIO DE JANEIRO
Events centered in four districts, using many venues from the 2007 Pan Am Games. Expecting revenues of $750 million with construction costs of $508 million. Feds have guaranteed any cost overruns. Half of venues would be within 10 minutes of Olympic Village. 'We will throw the greatest party ever,'' declared Sergio Cabral, governor of the state of Rio de Janeiro.
TOKYO
Stumbled when IOC reprimanded Japanese officials for improperly quizzing Rio about its bidding plan. New $1 billion waterfront stadium on tap, as well as four other permanent structures in aim to create 'Olympic theme park.' Marketing revenues tapped at $1.55 billion. Security plan includes cameras linked to computers scanning faces for known criminals.
PRAGUE
Budget to stage Olympics in Prague totals $7 billion, including $600 million for non-sports infrastructure such as roads. Main stadium will be converted into trade center. Some doubts expressed: Czech President Vaclav Klaus fretted about developing 'facilities for sports that will hardly be followed by a single spectator later on.''
MADRID
Lost 2012 Games to London. Would use Olympics to revitalize blighted area. Transportation upgrades pegged at $8.7 billion. 'Some people say because London [has] got the Games in 2012 then Europe won't get them again in 2016. But nowhere is it written down that is the case,'' said sports minister Jaime Lissavetsky.
DOHA, QATAR
Promises up to $1.1 billion government subsidy. Oil-rich nation about the size of Connecticut building what it calls 'the world's most advanced Paralympic stadium.'' Hosting Olympics would 'bring the Olympic flame to the Arabic-speaking world for the first time, extending the Olympic ideals to millions of new hearts and minds.''
BAKU, AZERBAIJAN
Caspian Sea resort city, formerly part of Soviet Union. Slightly smaller than Maine with 8.1 million residents. Hosted 2007 World Wrestling Championships. Long border with Iran could present security risks. No public release of plans.
Source: Andrew Herrmann
SURVEY SAYS
Do you support Chicago hosting the Olympics?
In April 2007 the Chicago 2016 Committee commissioned a poll by Zogby International to assess the public's enthusiasm for a Summer Games here. The poll surveyed 809 area adults.
According to the committee, 76 percent of respondents supported having the Olympics in Chicago.
Vote in our poll at www.suntimes.com
WHAT'S NEXT:
January-June 2008: International Olympic Committee and consultants examine questionnaires.
June 8, 2008: IOC executive board narrows field, eliminating some cities. Finalists must pay $500,000 fee.
Jan. 14, 2009: Bid books due to IOC. Evaluators from IOC will visit cities.
Sept. 2, 2009: IOC publishes evaluations.
Oct. 2, 2009: Host city elected in Copenhagen.
Photo: Olympic Stadium. ; Photo: Patrick Ryan. ;
