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Calgary 2026 Olympics

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  • Originally posted by coralharbour View Post

    My understanding is the budget for the Olympics was $5.1 billion. The province & the feds had offered $2.1 billion which would bring funding up to $2.5B with the City's stated contribution. Where was the other $2.6 billion coming from?
    The operations side is funded by IOC and private money, and generally ends up with a modest profit. Those operations are part of the $5.1 billion total budget, but it is the capital side that has the big public investment. Of course, if the operations side runs into problems, the city could be on the hook there too, but historically it has been the capital expenditures that cause cost overruns.

    Calgary certainly wasn't voting on spending $2.6 billion on the games. Anyone who thought that was being severely misled.

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    • Originally posted by coralharbour View Post
      Now Calgary City Council wants to keep the upfront money they received from the province as well as the balance of the promised $2.1 billion. Talk about dreaming in technocolour.

      https://nationalpost.com/news/politi...d-a9dff948c440
      Straight from the delusional talking points of some of the No side councillors, who somehow thought they could still go ahead with their wish list and get all that investment from outside of Calgary without actually hosting the event. Sorry Calgary, it doesn't work that way. You're on your own now.

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      • Originally posted by gilligan View Post

        Straight from the delusional talking points of some of the No side councillors, who somehow thought they could still go ahead with their wish list and get all that investment from outside of Calgary without actually hosting the event. Sorry Calgary, it doesn't work that way. You're on your own now.
        I was thinking if this gambit actually worked then Mayor Mumbles should immediately announce a bid for the Olympics.

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        • Originally posted by gilligan View Post

          The operations side is funded by IOC and private money, and generally ends up with a modest profit. Those operations are part of the $5.1 billion total budget, but it is the capital side that has the big public investment. Of course, if the operations side runs into problems, the city could be on the hook there too, but historically it has been the capital expenditures that cause cost overruns.

          Calgary certainly wasn't voting on spending $2.6 billion on the games. Anyone who thought that was being severely misled.
          Thanks for the post. I suspect the spectre of cost over-runs was a factor in the "no" vote.

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          • So Calgary is trying to keep the surplus from money given to them by the province and feds to develop the bid, and they're also going to request that they still receive the $2.1 billion in infrastructure funding:

            https://calgaryherald.com/news/polit...olympic-rescue

            They also mention a hailmary attempt to keep the bid alive by partnering with Edmonton, but that seems unlikely. From another article, an Edmonton city councillor was happy to see the Calgary Olympic bid die.

            Walters said he was happy to hear about Calgary voting no on the Olympic bid because that means more provincial and federal tax dollars for Edmonton.
            Seems everyone gets it except for Calgary's city council. Of course, Calgary is probably just playing dumb to try to save some face.

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            • https://www.deseretnews.com/article/...-next-year.amp

              looks the 2 remaining bids are in trouble
              Last edited by Unityriderguy; 12-15-2018, 08:18 AM.

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