United States won't bid for 2020 Olympics

The United States Olympic Committee announced on Monday that it has notified all interested cities that it will not submit a bid to host the 2020 Summer Olympics.

Interested cities included New York, Dallas and Chicago, but any potential bid was contingent upon the USOC settling a revenue-sharing deal with the International Olympic Committee.

Also, there was not a process in place to select a city such as the bid for the 2016 Games that saw Chicago beat out Los Angeles and San Francisco to become the United States candidate. Chicago eventually lost out to Rio de Janeiro.

The last Olympic Games to take place in the United States was in 2002, when Salt Lake City hosted the Winter Olympics. The last Summer Olympics in the United States took place in Atlanta in 1996.

Countries have until September 1 to submit the name of potential cities.