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updated: 8/22/2011 10:29 AM

No 2020 Olympic bid for U.S.

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Associated Press

The U.S. Olympic Committee has notified all interested cities that it will not submit a bid to host the 2020 Olympics, a person familiar with the negotiations told The Associated Press on Monday.

Chicago, New York and Dallas were among those that had expressed interest in putting forth a bid to host the games, but any bid was contingent upon the USOC working out a long-simmering revenue-sharing deal with the International Olympic Committee.

A person familiar with the negotiations, who did not want his name revealed because the talks are secret, said the revenue-sharing issue was not solved and there was no time to field a viable candidacy.

Countries have until Sept. 1 to submit the name of possible candidate cities.