COLORADO SPRINGS, Colo. -- If Boston, Los Angeles, San Francisco or Washington are picked to host the 2024 Olympics, one of the U.S. Olympic Committee's first tasks will be to hand over millions in sponsorships to the victorious city's new organizing committee.
It's one of those costly facts of life of the Olympics thanks to the Joint Marketing Program Agreement that a country's Olympic federation must sign when it puts a city up as a candidate to host the games.
The last two American bids, from New York and Chicago, included agreements that didn't conform with the International Olympic Committee's guidelines, which call for about 90 percent of the host federation's domestic sponsorship to be channeled to the new organizing committee.
The USOC would likely seek a different arrangement for a 2024 bid.
Copyright 2014 by The Associated Press
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