U.S. Nixes Bid for 2020 Olympics Amid Revenue Dispute

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American sports fans will have to travel overseas to see the Olympics at least until 2022

The U.S. Olympic Committee (USOC) announced that there will be no American bid for the 2020 Olympics, which means the Games will go nearly two decades without visiting American soil.

The last time the U.S. hosted the Summer Olympics was 1996 in Atlanta, and its most recent Winter Olympics was in 2002 in Salt Lake City. The U.S. has hosted the Olympics eight times, more than any other country, but two recent failed bids were considered rather embarrassing: New York City was eliminated in the second round of voting during its bid for the 2012 Games, while Chicago’s bid for 2016 ended dismally when it came in last among four cities.

(MORE: London’s 2012 Medals Are the Heaviest in Summer-Olympics History)

As other places around the world prepare for their 2020 bids, which must be submitted by Sept. 1, the USOC said it is holding off on another go at it because the organization needs to first work out a revenue-sharing agreement with the International Olympic Committee (IOC).

In the past, the USOC kept 20% of the revenue generated from corporate sponsorships and 12.75% made by television networks. The IOC thinks such a cut is too large, and the issue has soured relations over the past few years. A new formula to divide the money is in the works; a USOC official told NPR that as long as a new agreement has not been reached, no bids will be placed.

U.S. cities that had previously expressed interest in bidding this time around — but will not get the chance now — include Chicago, New York, Dallas and Las Vegas. So far, Rome, Tokyo, Madrid and Istanbul have confirmed bids for 2020. (via NPR)

MORE: North Korea Wants to Co-Host 2018 Winter Olympics

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