Quote:
Originally Posted by Leondros
Yes, the report was from Oxford - correct. My point is using an average of all Olympics likely isn’t a good proxy. Building and operating in Canada is different than other countries such as Russia or even Italy. These data points are going back to the 70s and wary 80s which were completely different economic realities. In addition, Calgary’s whole bid was predicated on existing infrastructure which was supposed to reduce the risk of overruns.
I was just pointing out that some of the funding also came from private sectors which weren’t shown in figure 9 of what I provided. That’s further funding outside of the tax payer. They certainly wouldn’t cover overages.
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Okay, let's agree and say we toss out all the other data points and just use Calgary in 1988 at 65%. (Which I would suggest is conservative given inflation these days and the wild insanity of how the bid budgeting hand waving when questions were bring raised in the waning days before the vote).
So call it an extra $3+ billion as an overrun.
Again, I'd say that we would be eating that. Not the federal government and we agree the private sectors are not going to be helping. And going back to reading the news at the time, the IOC explicitly said they would not be helping on any overruns either.