Withdrawal of Oslo '22 Winter Games bid based on 'half-truths and factual inaccuracies'

The International Olympic Committee says Norway's decision to withdraw Oslo's bid for the 2022 Winter Games is a "missed opportunity" for the city and country.

In a strongly-worded statement, IOC executive director Christophe Dubi says senior politicians in Norway were not properly briefed on the bid process and made their decision based on "half-truths and factual inaccuracies."

Dubi says Norway is missing out on $880 million in Olympic revenues that the IOC will provide the 2022 host city.

He says "it is a pity that Oslo will miss out on this great opportunity to invest in its future and show the world what it has to offer."

Oslo pulled out Wednesday after the government declined to provide financial guarantees.

Oslo's exit leaves Beijing and Almaty, Kazakhstan, as the two remaining contenders.