USOC terminates agreements for new headquarters, but negotiations continue

USOC terminates deals, but negotiations continue

COLORADO SPRINGS, Colo. — The U.S. Olympic Committee has withdrawn from three agreements designed to keep its headquarters in Colorado Springs, though the federation is still negotiating in hopes of seeing the projects completed.

LandCo Equity Partners, the city of Colorado Springs and the USOC agreed to the $53 million plan in March 2008 with the goal of keeping the sports organization, the Olympic training center and home offices for a handful of Olympic sports in Colorado Springs for 25 years.

The rough economy has delayed the project. In March, LandCo filed a lawsuit against the USOC and the city, alleging they failed to hold up their parts of the deal.

Even after the lawsuit, the parties continued to negotiate. Last month, they said the new headquarters could still be completed by late September.

USOC spokesman Darryl Seibel confirmed the deals was terminated last week.

“That said, we are still in discussions with the city and LandCo to find a resolution to the open issues and, if possible, see these projects fully developed and delivered,” he said.

Mayor Lionel Rivera said the city remained interested in completing the project.

“The city of Colorado Springs remains solidly committed to retaining the United States Olympic Committee headquarters, training center and space for the national governing bodies in Colorado Springs, where they have been for the last 30 years,” he said.