USOC terminates deals, but negotiations continue

By: AP
By: AP
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The U.S. Olympic Committee has withdrawn from three agreements designed to keep its headquarters in Colorado Springs, though the federation is still negotiating in hopes of seeing the projects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.

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