Bid Chief: Don't Go For 2020 Olympics

CHICAGO (CBS) ― He spent more than two years trying to convince the world that Chicago is the perfect place for the Olympics.

But now the former head of Chicago's 2016 bid says the city should sit out the next round.

CBS 2's Dorothy explains why Patrick Ryan has changed his mind.

One year ago, it started on such an upbeat note. Chicagoans packed Daley Plaza with cheers and smiles. It ended suddenly, in shock, when Chicago was the first city eliminated from the Olympic competition. For some, it still hurts.

The city wanted the Summer Games badly. Private donors poured $72 million into the Olympic bid. The plan called for events in Washington Park, Douglas Park, Grant Park, Soldier Field, Lincoln Park and other locations.

"We lost out on a lot of tourism, we lost out on jobs," Ryan said.

At the time, supporters were touting the creation of 315,000 construction and hospitality jobs across state and $450 million in tourism dollars. But Ryan points out that Chicago still gained publicity.

"The branding of Chicago was incredible. People all around the world got to know Chicago as they ought to know it," he said.

He said the city should one day make another bid, but not for 2020 because the International Olympic Committee isn't ready for a U.S. candidate city.

Ryan the committee will probably consider other countries that haven't hosted the games before or haven't done so in a long time.

Ryan said Africa, India and the Middle East may have the edge.