Boston and the U.S. Olympic Committee jointly announced on Monday the ending of the city’s campaign to host the 2024 Olympic and Paralympic Games.
Earlier Monday, Boston mayor Marty Walsh said he would not put taxpayers at risk by signing a contract with the United States Olympic Committee and would drop the city’s bid to host the Summer Games in 2024 if required to sign on Monday.
“I will not sign a document that puts one penny of taxpayers’ money on the line for Olympics cost overruns,” Walsh said at a press conference on Monday.
Olympic organizers set a provision that requires the host city to cover any cost overruns in the lead-up to the Olympics. A $4.6 billion plan was released in late June as part of Boston’s revised bid, in which about half of the originally planned venues were changed or relocated.
Walsh also said he would have “no regrets” about Boston’s Olympic bid being pulled and that he had spoken with Massachusetts governor Charlie Baker about the possibility.
“As we reflected on the timing and the status of our bid in this international competition, we have jointly come to the conclusion that the extensive efforts required in Boston at this stage of the bid process would detract from the U.S.’ ability to compete against strong interest from cities like Rome, Paris, Budapest and Hamburg,” Boston 2024 partnership chairman Steve Pagliuca said in a release. “For this reason, we have jointly decided to withdraw Boston’s bid in order to give the Olympic movement in the United States the best chance to bring the Games back to our country in 2024. In doing so, Boston 2024 Partnership will offer our support and the extensive knowledge we have gained in developing our Bid 2.0 to any American city that may choose to participate in the 2024 bidding process going forward.”
The USOC has expressed interest in working closely with city and state leaders in an effort to help the U.S. secure hosting rights for the first time since the 2002 Salt Lake City Games. New York and Chicago failed in their attempts to secure the 2012 and 2016 Olympics, respectively.
Los Angeles, host of the 1932 and 1984 Games, may be ready to take the place of Boston as the USOC’s candidate city. National Olympic committees have until Sept. 15 to submit their candidate city selection to the International Olympic Committee.
“When Boston was selected in January of this year, we were excited about the possibility of partnering with Boston’s great universities in a bid that would take advantage of existing college facilities and spur the development of much-needed sport, transportation and residential infrastructure for the City of Boston,” USOC CEO Scott Blackmun said in a release. “The cornerstone idea behind Boston’s bid was sound. We want to compliment and thank Steve Pagliuca and his team at Boston 2024 for the remarkable work they have done in the last two months to transform a powerful idea into a fiscally responsible reality that would have benefited the City of Boston and America’s athletes for decades to come. Because of the good work of Boston 2024, we know that the Boston Games would have been good for Boston, just like the Olympic Games were good for Lake Placid, Los Angeles, Atlanta and Salt Lake City.
“When we made the decision to bid for the 2024 Olympic Games, one of the guiding principles that we adopted was that we would only submit a bid that we believed could win.”
This article originally appeared on Sports Illustrated.