Chicago's Olympics bid will reach $87m

Forget the global recession - Chicago expects to spend $US49 million ($NZ87 million) on its bid for the 2016 Olympics.

• Rogge has `sympathy', no vote

United States Olympic Committee member Anita DeFrantz, in Queenstown for the Oceania National Olympic Committee annual meeting this week with 160 of the most powerful people in Olympic sport, yesterday told the Otago Daily Times "it breaks my heart" so much money would be spent on the bid.

"The IOC [International Olympic Committee] had hoped to make it much less expensive," the 1976 Olympic rowing bronze medallist said, adding it was comparable to what the other three cities - Rio, Madrid and Tokyo - were spending on their bids.

"The good news is that, in those costs, there is a lot of positives for sport.

So we can live with that."

Much of the money had been spent staging events and improving sporting facilities in Chicago as part of its bid, and in order to demonstrate its ability to host the Olympics.

The vote will take place in Copenhagen by secret ballot on October 2.

If Chicago is successful, it estimates the cost of staging the two-week long sporting event will be up to $US3.4 billion.

The city expects to earn $US3.8 billion in revenue.

Despite the sums of money involved, Ms DeFrantz volunteers her time.

She believes the event would impact on the city positively.

"Chicago is a gorgeous city and it would be a great place to come.

"We want to share what we have there with the world."

• London spent about £29 million bidding for the 2012 Olympic Games. The ODT incorrectly stated on Tuesday it was estimated London's spend was about half that figure.