Basketball - Venezuela Pending Bid a Concern

FIBA Americas declined to accept the Venezuelan Federation's original bid to host the 2007 and gave Venezuela one last chance to come up with a suitable financial package by Monday 16th to beat out Las Vegas or San Juan to host the Beijing 2008 Olympic qualifying tournament in August 2007.

The organization of the tournament has become more complex since neither the U.S. nor Argentina managed to earn the automatic qualifier to the Olympics when none of them won the gold medal at the World Championships in Japan last month. Chile, which was one of the original bidders, is now also out of the process since it has received the women's tournament of America’s event. Then Venezuela lost its bid when it failed to make a $1.5 million payment by the Aug. 31 deadline.

It has been rumored that the bid from the U.S. and Puerto Rico is more than a million dollars over what Venezuela was offering. But the FIBA committee still gave one hot to Venezuela to win over the bid process. But multiple analysts over the past month emphasize the fact that it is risky for the U.S. to organize the tournament there taking into account the anti-American government in office. Players and staff could have issues going to a place that is ripe with anti-American behavior.

But money is likely to be the determining factor. Indeed many of the FIBA programs, which are not governmental supported, in the Americas need the funds. Therefore if money is the core issue the tournament will likely go to Las Vegas or San Juan. Besides with NBA players like LeBron James, Carmelo Anthony and Dwyane Wade, the television and sponsorship is sure to increase if the event were held in Las Vegas, or maybe even in Puerto Rico.

Las Vegas is better positioned to win the bid considering its economic power, sport infrastructure, TV and information systems, good hotel chains and transportation system. But the bid still could be a political decision.