The US Senate has approved a $250 million fund for the city of Chicago should it succeed in its bid to host the 2016 Summer Olympic Games and then lose money on the event.
The Chicago Tribune newspaper reports that those who proposed the legislation, which was approved by a 100 to 14 vote, said the chances were low that the fund would have to be used. The backers of the legislation said it would be unusual for an Olympics held in the US to make a loss.
Representative Will Burns said it was important to have the guarantee in place by the time an IOC Evaluation Committee comes to inspect the city in early April.
