Daley: Chicago Olympics won't cost taxpayers

2016 | Mayor says Games shouldn't lose money

Facing a credibility problem over his Olympics plans, Mayor Daley sought to assure taxpayers Friday that the games would not cost them any additional money -- despite his agreement to sign a host-city contract that could put them on the hook for losses.

"I do not want to burden Chicago taxpayers with the cost of the Olympics, I want to make that very clear," Daley said at an unrelated event downtown.

It was the mayor's first public appearance since he and his Olympic planners returned from Switzerland.

While there he told the International Olympics Committee he would sign the host-city contract, but Daley said Friday he wants a provision to ensure that $2.5 billion in public and private insurance and guarantees will be exhausted before the city has to put up more cash.

Daley stressed he's not expecting losses.

Daley's pledge last week to sign the agreement -- essentially an open-ended guarantee against losses -- angered aldermen who said they were kept in the dark.

Daley sought to soothe those fears, saying aldermen would be consulted.

"I would never take members of this City Council for granted, the taxpayers or anyone. I don't know why people are trying to get this impression. I hope you stop that," Daley said.