Chicago, Tokyo, Rio, Madrid the Favorites as IOC Pares Down 2016 Host Cities

The International Olympic Committee will announce the short list of candidates to host the 2016 Summer Olympics Wednesday morning, and it appears that Chicago is the city best prepared to move on.

The Bid Index at GamesBids.com says that Chicago is the early favorite, with a very slight lead over Tokyo, Rio de Janeiro and Madrid. Doha, Qatar is a borderline candidate, while Prague and Baku appear likely to be eliminated Wednesday.

Chicago's strength as a host city include its excellent athletic facilities, the support of high-profile Chicagoans including Barack Obama and Mayor Richard Daley, and the fact that sponsors like having the Games in the United States.

The biggest obstacle standing in the way of Chicago hosting the Games is that the U.S. government does not financially support host cities the way countries like Qatar and Brazil are more than happy to do. But for now, Chicago appears to be the favorite.