Quote:
Originally Posted by GullFoss
I only want the games to go ahead if it the cost-benefit is positive for each of the country, province and city.
Government on the hook for $3b.
- subtract what city needs to spend on infrastructure anyways (0.5b-1b)
- subtract income tax collection on costs and multipliers (0.7-2b)
-subtract income tax from tourism and ticket sales ($0.1m)
Conclusion: It won't break even. So ioc needs to contribute about more until it looks fair. This is what fair looks like to me based on back of envelope net benefit calculations:
Province: $0.8
City: $0.5
Feds: $1.0
Ioc: $1.8
Tickets: $1.1
What's interesting in my back of envelope math of net benefit to province ($0.8b) is similar to what they offered ($0.7b). So they might have made their offer based on similar calculations.
Part of me hopes the world has no Olympics in 2026 so ioc is embarrassed and forces member countries to do major overhaul of the corrupt ioc and fifa.
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Wow...pretty close on the provincial and municipal funding amounts.
City: $465m actual vs $500m estimated
Province; $775m vs $800m estimated
Feds: $1.4 vs $1b estimated
Which therefore suggests the answer is that (1) the feds are going to subsidize the games to the tune of $400m and (2) the remaining amount is coming via cost cutting.
Still would have rather the bid team went back and asked the ioc for the additional $400m rather than have the feds pony up the cash