Dashing the hope of the thousands still remaining within the city limits, Detroit mayor Dave Bing has confirmed the city will not be bidding for the 2024 Summer Olympics. With Detroit soon to be under emergency financial management, the $3 billion commitment for a frivolous athletic competition was a bit steep.

“With our rich history of hosting major events and Detroit’s prime location on an international border, we recognize that this makes Detroit an appealing candidate to potentially host the 2024 Olympics and Paralympics,” Bing said in a statement released this morning.

“However, the bid calls for a $10 million upfront bid process payment and adding more than a $3 billion operating budget commitment — not including cost associated with venue construction and other infrastructure cost. Unfortunately, due to the timing and uncertainty of Detroit’s long-term financial stability, we must respectfully decline to participate.”

It’s a shame. We are sure a 53-year-old Kid Rock would have killed it at the opening ceremony.

Detroit last made a serious play for the Olympics in 1968, which might not have been the ideal time to hold them. Still hoping for a far more sensible MLS team, but guessing the league will prefer to flame out in Florida, again, if the New York thing does not work out.

[Photo via USA Today Sports]