FIBA’s qualifying tournament for 2008 Olympic basketball in the America was to be held in Venezuela. President Chavez won the bidding, and his country was to host the event. However his bid, much like the socialism he’s attempting to move the country toward, only looked good on paper. In practice, his govenrment failed to live up to its promises of event preparation, and so FIBA rescinded its award of the event to Venezuela.
Hope was not lost for Chavez’s big showcase though. He was still allowed to re-bid for the event again. He didn’t even bother, though, and so Las Vegas will host the event instead.
Good news for USA Basketball, bad news for Hugo Chavez. The only way I’d be happier would be if somehow the NCAA lost out in this.