Quote:
Originally Posted by chemgear
The bid budget was what in total? Like $5 Billion? So the average overrun for winter games at 142% so Calgary would be eating an overrun of something in the order of $7 Billion let's say.
So to get $1 Billion of "free magical money", we would need to go $7 Billion into debt.
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Your assumptions are too simplistic. Part of the budget was $2.2B in private funding made up of the IOC contribution, ticketing, sponsorship and licensing. Not on the tax payer at all.
In addition, I looked at your source for the 142% and would like to point out it is highly skewed by the data point for Sochi at 289%. If I look at just the Canadian Olympic overages I get 39% (Vancouver at 13% and Calgary at 65%) which I argue are better proxies for the way our country does construction and sets contracts.