Boston's Bid for 2024 Olympics Is Over

Boston's Bid for 2024 Olympics Is Over

On Monday afternoon, Boston's mayor Marty Walsh announced that he would not be signing a taxpayer guarantee as part of the host city's contract for the 2024 Olympic games to be held in Boston.

According to Walsh, he is under great pressure to sign the host city's contract, but wont "mortgage the future away" and wants to protect Boston's tax payers.

"If committing to signing a guarantee today is what is required to move forward, then Boston is no longer pursuing the 2024 Olympic and Paralympic Games," said Walsh in a press conference on Monday.

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

Following Monday's press conference, numerous reports have stated that United States Olympic Committee had severed ties with Boston and would now have just seven weeks to find a new host city if they wanted another shot at hosting the Olympics in the U.S.