The plan was selected by a steering committee organized by NYC2012, the organization leading the city's bid to play host to the Games.
Representatives of NYC2012, the group leading the city's Olympic bid, also made presentations yesterday.
One of the highlights of his ownership was in 1999, when he led the team's bid to host the 1999 Memorial Cup tournament.
Payne was still three years from leading Atlanta's winning bid to hold the 1996 Summer Games.
The $400,000 design competition will be sponsored by NYC2012, the committee leading New York's bid to become the host city of the 2012 Games.
He led Singapore's successful bid for the games and was an advisor to the organising committee.
In 1992, he led Toronto's unsuccessful bid to host Expo '98.
Richard Caborn led England's bid to stage the event after stepping down as Sports Minister.
Rajapaksa also led Hambantota's unsuccessful bid to host the 2018 Commonwealth Games.
He led the company's unsolicited bid for Iberdrola in 2003, a plan that was blocked by regulators.