SIR Chris Hoy and Sebastian Coe spoke of their disappointment after Glasgow's hopes of hosting the 2018 Youth Olympic Games ended in failure.
The city had been bidding against Buenos Aires, in Argentina, and the Colombian city of Medellin for the event but was knocked out of contention in the first round of voting at the International Olympic Committee in Lausanne, Switzerland.
Buenos Aires eventually won the right to stage the Games.
Glasgow always struggled to overcome a feeling held by many IOC members that following London 2012, the UK had had its fair share of Olympic events.
Cycling champion Hoy, who had been part of Glasgow's bid presentation along with British Olympic Association and London 2012 chairman Sebastian Coe, said on Twitter: "Sadly it wasn't to be. Glasgow didn't make it to the final voting round. The team did a brilliant job, very proud to have been involved."
Earlier, Lord Coe had stressed to IOC members that Glasgow would be a safe choice for the Games, praising it as a "welcoming city with an unstoppable spirit of fun".
But in the event, Glasgow polled just 13 votes in the first round compared to 40 for Buenos Aires and 32 for Medellin. In the second round 49 members voted for Buenos Aires and 39 for Medellin.
Lord Coe said: "We are of course disappointed Glasgow didn't prevail but the bid leaves a very tangible legacy, having engaged with 1.5 million young people in the UK, which means we have 1.5 million potential new young ambassadors for the Olympic movement and sport. That is something we are very proud of."
Glasgow 2018 bid director Paul Bush said: "It is of course disappointing not to win but this was one of the toughest Olympic races of recent times and nothing can take away from the excellent technical and visionary bid put together by all the partners.
"I would like to pay particular tribute to all the young people who were at the heart of this bid from the beginning and who embraced it as their own. They should take immense pride in their achievements."
Secretary of State for Scotland Michael Moore added: "While it's clearly disappointing Glasgow will not be hosting the 2018 Youth Olympics, I'd like to congratulate the bid team for putting forward an excellent case and showcasing what Glasgow has to offer.
"I hope the excitement generated by the bid, coupled with the enthusiasm for the upcoming Commonwealth Games, will help inspire a future generation to create a sporting legacy which the city – and, indeed, the nation – can be proud of."
The 2018 event will be the third Youth Olympics. The event was the brainchild of IOC president Jacques Rogge, whose term in office ends in September.
His successor will be voted for at the IOC session in two months' time, also being held in Buenos Aires.
Mr Rogge said: "We had three excellent candidates from which to choose today, each with the capability of staging memorable Youth Olympic Games in 2018.
"I would like to congratulate Buenos Aires and their bid team for their dedication to and enthusiasm for the Youth Olympic Games project. I have no doubt they will build on the successes of Singapore 2010 and Nanjing 2014 to provide a platform on which the best young athletes from around the world can compete and learn about the Olympic values."
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