Chicago - as well as the US - were left utterly humiliated after losing out in the first round of voting in Copenhagen despite the highly publicised appearance of the United States President Barack Obama and First Lady Michelle Obama in the Danish capital.

The USOC are widely seen to be at fault for Chicago’s failure after publically discussing their intentions to set up an Olympic television channel – a move that was widely criticised by the IOC - and a row over revenue sharing and Sir Craig claims that the USOC must now take their time before they carefully decide on their next substantial course of action.

 

Reedie said: "Although the USOC announced their decided to put their television channel on hold nine months before the decision [in Copenhagen] the IOC member’s have a memory of longer than nine months.

 

"The USOC must now ensure that that don’t react too quickly.

 

"Immediate decisions that are made in haste don’t often tend to be the best decisions.

 

"They must take their time and carefully think about the best way to move forwards in partnership with the IOC as both organisations would hugely benefit from a strong relationship.”

 

Sir Craig was talking at the Global Sports Industry Congress in London along with Mike Lee, the Director of Communications and Public Affairs for London’s successful 2012 bid and more recently, the more recently lead adviser on the campaign which saw Rio de Janeiro chosen to become the first South American city to be chosen to host the Games.

 

Lee admitted that having beaten Chicago for the right to host the 2016 Olympics, he never believed the American city could promise the necessary financial guarantees to host the 2016 Games.

 

He said: "Brazil showed that is was financially ready to host the Olympic Games and the appearance of the Central Bank President during the voting process helped illustrate that.

 

"Chicago didn’t have that [financial security].

 

"No-one [within the IOC] was truly convinced with their financial guarantees as they were with Rio."