Statement from Andy Wirth regarding today's decision by the USOC:

"Over the past few months, a talented and inspired group of Nevadans and Californians have come together to explore the possibility of hosting the Winter Olympics in Lake Tahoe in 2022."

"We have always understood that our efforts were contingent upon the USOC's determination about whether or not to pursue a bid."

"In light of the decision announced today by the leadership of the USOC, we respect our nation's Olympic Committee and their decisions, without reservation."

"The Lake Tahoe region is one of America's greatest natural gems, and we believe that its place as a Winter sports destination remains unparalleled.   While the USOC has chosen not to pursue the 2022 Winter Olympics, I believe, as does our board of directors, that we have laid the groundwork for a return of the Olympic Flame to this region and to our very own Olympic Valley in the future."

Andy Wirth is president and CEO of Squaw Valley and Alpine Meadows and the chairman and president of the Lake Tahoe Winter Olympic Committee Board of Directors.