In 2006, mayor Richard M. Daley established a local Olympic panel of notable members in the local corporate sphere.

In 2006, mayor Richard M. Daley organized an Olympic panel of local corporate leaders.  Board members included: Patrick Ryan, Henry Bienen, W. James Farrell, James McNerney, Jr., William Osborn, John Madigan, Larry Wert, William Daley, Penny Pritzker, Louis B. Susman, Miles White, Edward Zander and CEO of Click Commerce Inc., Michael Ferro.  Additionally, local former Olympians and civil rights leaders were included on the Olympic panel.

The panel of leaders performed duties on a pro-bono basis.  At the time, 79% of citizens supported and encouraged the idea of hosting the 2016 Summer Olympics.  However, despite this bid, the Olympics were instead hosted in Rio de Janeiro, Brazil.