Why no one wants to host Olympic Games anymore
5 months ago

Why no one wants to host Olympic Games anymore

The Telegraph  

As he follows the Paris 2024 Olympics from afar, Eric Sheehan is trying to prevent the Olympic flame from coming to his home city in four years’ time. Sheehan is a leading member of NOlympics LA, a group striving to get Los Angeles to pull out of hosting the 2028 Olympic and Paralympic Games. To Sheehan, Paris’s experience illustrates why Los Angeles should not spend an estimated $7 billion to host the 2028 Games. After three other cities withdrew from bidding to host the 2024 Games, Los Angeles then agreed to bid for 2028 instead — so the Californian city and Paris were both left unopposed. On average, Summer Olympic Games since 1960 overspent their initial budget by 195 per cent, and the cheaper Winter Games still by 132 per cent, the academics Alexander Budzier and Bent Flyvbjerg calculated in a recent study at Oxford University.

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History of this topic

The Olympics and its financial distress: Watch Video
4 months, 1 week ago

The Olympics and its financial distress: Watch Video

The Hindu  

Watch: The Olympics and its financial distress An independent study expected Paris to generate between 6.7 and 11.1 billion Euros in net economic benefits for hosting the Olympics. The 15 day-long event was expected to witness anything between 2.3 and 3.1 million unique visitors with game tickets. While it all looks amazing at the top, a brief look at the …

Paris Olympics 2024: France turned the Games into a citywide party for everyone.
4 months, 1 week ago

Paris Olympics 2024: France turned the Games into a citywide party for everyone.

Slate  

This is part of Slate’s 2024 Olympics coverage. I even loved the golf, which surprised me by being the Olympics’ most egalitarian spectator experience, all ticket holders equal in our dignified scrambling up the grassy hillocks around the course. “Paris Superstar,” read the cover of Saturday’s Libération, the left-wing daily that can usually be counted on for Olympic cynicism. Even …

Olympics 2024: Was it worth it for Paris to host the Games and other unanswered questions.
4 months, 1 week ago

Olympics 2024: Was it worth it for Paris to host the Games and other unanswered questions.

Slate  

This is part of Slate’s 2024 Olympics coverage. Why did Paris, a city whose international reputation could scarcely get any bigger, decide to host the Olympics in the first place? Will the Paris Olympics, with their few permanent developments, all in service of the public interest, redeem the competition’s model? In a world with no Olympics, does the region’s highly …

Will the Paris Olympics Break the Economic Curse of Host Cities?
4 months, 2 weeks ago

Will the Paris Olympics Break the Economic Curse of Host Cities?

Slate  

This is part of Slate’s 2024 Olympics coverage. CEO Jean-François Bandet expressed the complicated feelings many Parisian merchants have in a short essay on LinkedIn the other day: “Business side, the results are clear: We’re approaching the halfway point of the Games, and BO&MIE’s receipts are down 15 to 30 percent year over year… but… how can you not be …

World leaders pledge billions to sports and sustainability at pre-Olympics summit
4 months, 4 weeks ago

World leaders pledge billions to sports and sustainability at pre-Olympics summit

Associated Press  

PARIS — World and business leaders have pledged billions of dollars in financing and committed to supporting various sporting initiatives aimed at accelerating sustainable development, one day before the Olympic Games officially open. About 500 participants, including 50 heads of state and government, attended Thursday’s summit championed by French President Emmanuel Macron and International Olympic Committee President Thomas Bach near …

How to still buy tickets for the Paris 2024 Olympics
8 months ago

How to still buy tickets for the Paris 2024 Olympics

The Independent  

Sign up to our free sport newsletter for all the latest news on everything from cycling to boxing Sign up to our free sport email for all the latest news Sign up to our free sport email for all the latest news SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Last Word: Bidding for sports’ biggest spectacle
1 year, 1 month ago

Last Word: Bidding for sports’ biggest spectacle

The Hindu  

India’s plan to host the 2036 Olympics speaks of a rare confidence and a certain recklessness. Boston, for instance, pulled out of the bid for 2024 because, in the words of its mayor, they “refuse to mortgage the future of the city away.” Budapest, Hamburg, and Rome, who were in the running for 2024, withdrew too, leaving only Paris and …

Opinion: Will the Olympic Games be as costly for L.A. as they are for Paris?
1 year, 4 months ago

Opinion: Will the Olympic Games be as costly for L.A. as they are for Paris?

LA Times  

A mural depicting a version of the L.A. 2028 Summer Games logo at the Delano Recreation Center in Van Nuys in 2020. Back in 2017, when the International Olympic Committee simultaneously handed the 2024 and 2028 Summer Games to France and the U.S., IOC President Thomas Bach vowed that the scheme would be “a ‘win-win-win’ situation for the city of …

Paris Olympic organizing head says budget ‘under control’ a year ahead of 2024 Games
1 year, 5 months ago

Paris Olympic organizing head says budget ‘under control’ a year ahead of 2024 Games

Associated Press  

PARIS — The operating budget for the Paris Olympics is “under control,” the president of the organizing committee said Tuesday. With one year to go before the opening ceremony, organizing committee president Tony Estanguet said partnership deals are on track, with 22 new sponsors joining since the start of the year. It’s obviously the first time that a sporting event …

Paris Olympic budget issues could force cuts, says government report
1 year, 6 months ago

Paris Olympic budget issues could force cuts, says government report

The Hindu  

The 2024 Paris Olympics are coming in significantly over budget because of an “incomprehensible lack of understanding of the complexity of the IOC’s specifications”, France’s Court of Audit has found. “Further measures to reduce service levels will be required to ensure final budgetary equilibrium,” said the report adding that “substantial uncertainties remain concerning the final level of resources.” The report …

'So expensive' - Paris Olympics ticket prices mar image of Games for all
1 year, 7 months ago

'So expensive' - Paris Olympics ticket prices mar image of Games for all

Deccan Chronicle  

PARIS: Athletes have joined the clamour of criticism at the high cost of tickets for the 2024 Paris Olympics, decried as undermining organisers' promises of a Games accessible to all. Phase two of sales got underway on May 11, with nearly 1.5 million individual tickets available, after over three million were sold as multi-event packs during phase one. But just …

Why does no one want to host the Winter Olympics?
1 year, 10 months ago

Why does no one want to host the Winter Olympics?

The Independent  

Sign up to our free sport newsletter for all the latest news on everything from cycling to boxing Sign up to our free sport email for all the latest news Sign up to our free sport email for all the latest news SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Paris 2024 organizers say budget likely to increase due to high inflation
2 years, 1 month ago

Paris 2024 organizers say budget likely to increase due to high inflation

The Hindu  

The operating budget for the 2024 Paris Olympics is expected to go up by 10%, in part because of high inflation, organizers said Tuesday. The organizing committee, known as COJO, had an original operating budget of around 4 billion euros but will present a revised figure at a board meeting next month that is expected to reach 4.4 billion euros. …

Paris 2024 organizers say budget likely to increase
2 years, 1 month ago

Paris 2024 organizers say budget likely to increase

Associated Press  

PARIS — The operating budget for the 2024 Paris Olympics is expected to go up by 10%, in part because of high inflation, organizers said Tuesday. The organizing committee, known as COJO, had an original operating budget of around 4 billion euros but will present a revised figure at a board meeting next month that is expected to reach 4.4 …

The Cheapo Olympics Are Coming
54 years, 11 months ago

The Cheapo Olympics Are Coming

Slate  

The Olympics are going on a diet. “It’s an area that’s had some trouble, but there’s a lot of energy there.” The Olympic Village will be in Saint-Denis, on reclaimed industrial land along the Seine. The 2024 Olympic Village is a half-mile from the Stade de France and the new Olympic pool—the first of its size to be built in …

Tokyo Olympics 2020: The Summer Games cost $15.4 billion. What else could that buy?
3 years, 4 months ago

Tokyo Olympics 2020: The Summer Games cost $15.4 billion. What else could that buy?

Firstpost  

Olympic costs have been dissected in a study by the University of Oxford, which found that all Games since 1960 have had cost overruns averaging 172%. For example: The 1964 Tokyo Games, he says, “were either one of the cheapest or one of the most expensive Games depending on how much of the preparation costs count as the Olympics.” The …

Why Host The Olympics When History Shows It's Likely A Money Pit? : The Indicator from Planet Money : NPR
3 years, 4 months ago

Why Host The Olympics When History Shows It's Likely A Money Pit? : The Indicator from Planet Money : NPR

NPR  

Why Host The Olympics? Enlarge this image Lintao Zhang/Getty Images Lintao Zhang/Getty Images The Tokyo Olympics have met numerous challenges, from postponing the event in 2020 to near-empty stadiums in 2021 due to the pandemic. The current Olympics have already cost Japan over 15 billion dollars, much more than the original seven billion dollar proposal. For example, in 1968 he …

Tokyo Olympics won’t confirm added costs reported at $3 billion - Sports News
4 years ago

Tokyo Olympics won’t confirm added costs reported at $3 billion - Sports News

The Hindu  

Organisers of the delayed Tokyo Olympics have declined to confirm widely circulated reports in Japan that the costs of the one-year postponement will be about $3 billion. The Yomiuri newspaper and Kyodo on Sunday detailed added costs of 200 billion yen, about $2 billion, to renegotiate venues leases, pay staff salaries, and cover other operational expenditure. The reported cost of …

Olympics cost overruns should make bid cities 'walk away' from the Games, say researchers
4 years, 3 months ago

Olympics cost overruns should make bid cities 'walk away' from the Games, say researchers

ABC  

"The best Games ever" are being remembered in Sydney and around Australia 20 years after Cathy Freeman lit the cauldron to signal the start of the first Olympics of the new millennium. Key points: According to Oxford University researchers, the 2000 Olympics in Sydney cost $6.91 billion, a cost overrun of 90 per cent But the paper found the average …

Oxford study: Tokyo Olympics are most costly Summer Games
4 years, 3 months ago

Oxford study: Tokyo Olympics are most costly Summer Games

Associated Press  

TOKYO — The Tokyo Olympics are already the most expensive Summer Games on record with costs set to go higher, a wide-ranging study from Britain’s University of Oxford indicates. Flyvbjerg writes: “Unfortunatley, Olympics officials and hosts often misinform about the costs and cost overruns of the Games.. We therefore cannot count on organizers, the IOC, and governments to provide us …

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