Riverdale Rink Rat
Senior Member
It's more complicated than that!
As per Reguly's article, it really depends on which entity you are in the mix. The IOC and the local bid committee receive the cash from the broadcasters, etc. But most or all of the infrastructure (including arenas, etc.) seems to get built by government cash. Sorting out how much of the cost is borne directly by the taxpayer and how much is reimbursed from advertisers, broadcasters and ticket sales is incredibly complex.
Based on Reguly's numbers, I'd guesstimate that about half the tab seems to come from local and national governments. In Toronto, as the City is not allowed to run a deficit, this would mean the Ontario and Canadian governments paying about $12bn to host the Games. At least, that's my take. I'd love to hear alternate assessments, particularly where else cash would come from.
I want the olympics but not at 25 billion dollars. That's crazy. But I guess I need to know the money that the city makes off the olympics as well. For instance does it cost them 25 billion to put on but they make 20 billion so the total loss is only 5 billion. Or after everything do they actually lose 25 billion?
As per Reguly's article, it really depends on which entity you are in the mix. The IOC and the local bid committee receive the cash from the broadcasters, etc. But most or all of the infrastructure (including arenas, etc.) seems to get built by government cash. Sorting out how much of the cost is borne directly by the taxpayer and how much is reimbursed from advertisers, broadcasters and ticket sales is incredibly complex.
Based on Reguly's numbers, I'd guesstimate that about half the tab seems to come from local and national governments. In Toronto, as the City is not allowed to run a deficit, this would mean the Ontario and Canadian governments paying about $12bn to host the Games. At least, that's my take. I'd love to hear alternate assessments, particularly where else cash would come from.