The Anchorage Organizing Committee spent nearly $3...

The Anchorage Organizing Committee spent nearly $3 million on an unsuccessful bid for the 1992 Winter Olympics, a budget overrun of about 50%. The committee’s year-end financial report also showed that much of the money went to businesses owned by committee members.

Most of the cost overrun was due to elaborate receptions and exhibits to try to win the votes of members of the International Olympic Committee. The Alaska city finished sixth among the seven cities bidding for the 1992 Winter Games.