The following is a statement from U.S. Olympic Committee Chairman Larry Probst and Acting CEO Stephanie Streeter.

COPENHAGEN, DENMARK - On behalf of the U.S. Olympic family, we extend our congratulations to Rio de Janeiro on its selection as the host city for the 2016 Olympic and Paralympic Games. Rio put together an excellent bid plan, and we look forward to bringing our athletes and delegation to Brazil in 2016.

This was a terrific competition among four world-class cities. While we are disappointed, we thank Mayor Daley, the City of Chicago, Pat Ryan and Chicago 2016 for their tireless efforts and an outstanding bid. We are proud and appreciative of all of their efforts, along with that of thousands of athlete ambassadors, corporate backers, private donors, and our National Governing Bodies and Multi-Sport Organizations. We are extremely grateful to President Obama, First Lady Michelle Obama, Senior Advisor Valerie Jarrett and the entire Obama administration for their unprecedented support of the bid and the Olympic Movement.

We would also like to recognize and applaud Madrid and Tokyo, two cities that also competed vigorously and fairly, and helped to bring the process to a new high with the quality and strength of their bid plans. Having four world-class cities put such considerable effort into this competitive process demonstrates the strength and significance of the Olympic Movement worldwide.

We are tremendously proud of Chicago's bid and the positive legacy it leaves for the City of Chicago and the U.S. Olympic family. Together we have raised awareness of the Olympic Movement in our country in ways we never have seen before through new partnerships like the U.S. Conference of Mayors and World Sport Chicago.

The USOC will continue to be active internationally and demonstrate that our efforts and support of the international Olympic Movement is a long-term commitment. We look forward to continuing our partnership with the IOC, other National Olympic Committees and International Federations.

The USOC is now focused on looking forward. We anticipate exciting and thrilling competition at the Olympic Winter Games in Vancouver this February. We will continue to develop Team USA to compete to their highest potential, focusing on our mission to support America's athletes and NGBs. 

For more information, please contact the USOC Communications Division at (719) 866-4529, or visit www.teamusa.org.