Chicago 2016 to Hang up its Cleats
With Chicago's Olympic hopes dashed, the local organization that dared us to Imagine Letting Friendship Shine will begin to close up shop. Chicago 2016 is expected to lay off nearly 60 members of its support staff, retaining a skeleton crew as it winds down operations by year's end. All of the brain power and dreamers, many collecting six-figure salaries from the organization, will go back to their corporate jobs or on to other lucrative jobs. What's left of Chicago 2016 will be dissolved, and its remaining finances will be donated to World Sport Chicago, who's mission is to "uphold and advance the Olympic ideals in every day life through active participation in Olympic and Paralympic sports" by bringing sports opportunities to Chicago youth.
All told, Chicago 2016 raised $76.9 million from July 2006 through last June 30, all from private donations. It spent $48.3 million working to secure the 2016 Summer Olympics for Chicago, and donated $13 million to World Sport Chicago. Chicago 2016 also spent $9.5 million on salaries for staff and contractors. How much that will be leftover for World Sport Chicago remains to be seen.