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Olympics in ‘Crisis’ as Just Two Cities Vie to Host Summer Games

  • IOC sees Budapest withdraw from 2024 race after Rio troubles
  • Rio organizers still owe service providers; TV viewers down
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U.S. Olympic Committee CEO Calls Games a 'Good Beacon'

From Athens to Sochi and on to Rio, stadiums and arenas in varying stages of decay are symbols of the crisis facing the International Olympic Committee. Budapest’s decision on Wednesday to withdraw its bid for the 2024 summer games leaves just two cities -- Los Angeles and Paris -- competing to play host to sport’s biggest event.

The decision by the Hungarian capital came after thousands signed a petition urging local authorities not to pursue what would be a multibillion-dollar project. Perhaps mindful of the wastelands that now mark sites of previous games, local politicians and bid leaders met and backed down. Having just two cities in the running for one of sport’s two landmark events -- the soccer World Cup is the other -- isn’t a good look for the IOC.