Should Calgary Bid on the 2026 Olympics

[calf]

Originally Posted by stampsx2

YES CALGARY!

$4.5 Billion. That’s how much free money Calgary will be missing out on if we don’t get the Olympics.

If we don’t have an Olympics our city will be missing out on:
$1.2 billion from the IOC
$1.8 billion from games revenues
$1.5 billion from the federal government

However organizers are counting on $2.23 billion from games revenues and sponsorships not $1.8 billion.

Sports Canada which is a jurisdiction of the federal government has money earmarked for events. Weather it’s the Olympics, Pan Am games, Commonwealth games or whatever, that money will get spent. If we don’t use it, some other province will. That money is already there.

People our taxes aren’t going to go down if we don’t have an Olympics.

Let's say we get "free" infrastructure paid for by the rest of Canada. Who's stuck with the costs of maintaining and upkeep of these facilities? How much are those costs? Will user fees make up the shortfall? What about the costs for commissioning when the facilities reach the end of their life, like we're seeing today with the ski jumps at Winsport?

For me - it's possible that something reasonable can be agreed upon. But it's not being communicated at best, or hasn't been thought of at worst. Either way, it's something the voters should know before heading to the polls. All the Yes side has now is "free infrastructure" and "legacy". And no one is dealing with what that looks like financially 20-30 years down the road.

[craigwd]

Originally Posted by calf

Let's say we get "free" infrastructure paid for by the rest of Canada. Who's stuck with the costs of maintaining and upkeep of these facilities? How much are those costs? Will user fees make up the shortfall? What about the costs for commissioning when the facilities reach the end of their life, like we're seeing today with the ski jumps at Winsport?

Yes. These are existing facilities.
As is the case now, Winsport and the University of Calgary would continue to maintain their facilities. Nothing would change.

The only new infrastructure would be: the multi-sport complex/Fieldhouse which would also have user fees and registration monies to use for upkeep, and a new arena which I imagine would be run either a a Winsport Arena or part of Calgary Parks & Rec like the other arenas (unless of course the Flames transforms it to an NHL arena and takes over).

[llwhiteoutll]

Originally Posted by Red Slinger

I find it interesting that so many people claim to be fiscally conservative are totally on board with what is essentially a blank cheque from the City.

I'm on the fence. I'd like to know who pays for the cost overruns? I'd also like confirmation of facilities will be built rather than assuming that there will be a new arena.

The city is on the hook for overruns in cost.

We get a field house and a 5,000 seat arena. Everything else is renovated or sent to Whistler and Canmore. There are no new roads, no new interchanges or overpasses, no new spur line for the LRT to the airport, no extension of the green/blue/red lines.

[CliffFletcher]

I love how when senators rack up big orange juice tabs on parliament hill, people in Calgary complain about their taxes being wasted. But when it's $1.5 billion in Olympic funding coming from the federal government, that's all someone else's money.

[corporatejay]

Originally Posted by CliffFletcher

I love how when senators rack up big orange juice tabs on parliament hill, people in Calgary complain about their taxes being wasted. But when it's $1.5 billion in Olympic funding coming from the federal government, that's all someone else's money.

The 1.5 billion dollars coming from the feds is money they set aside to host 2 large international sporting events every decade. If Calgary doesn't get this money some other city will for either pan am games, world track and field etc... This is NOT money that will be used for any other purpose and already factored into your taxes (so no increases).

If you think that's a waste of money, fine but it's not like the Feds aren't going to spend it somewhere so why not here?

[stampsx2]

The whole federal money is taxpayer money or canada’a Money is a moot point. That money is allocated. Your federal taxes aren’t going up if we have an Olympics and you certainly aren’t getting that money back. That money is spent, either in Calgary or somewhere else, but it’s gone.

Yes it’s our money and it’s getting spent either here in Calgary where we can get something out of it or somewhere else where we won’t see it.

[Senator Clay Davis]

It's only getting spent in Calgary if Calgary spends $800 million on the Olympics and bears all the cost overruns. Sounds like a dog#### deal.

[GGG]

Originally Posted by calf

Let's say we get "free" infrastructure paid for by the rest of Canada. Who's stuck with the costs of maintaining and upkeep of these facilities? How much are those costs? Will user fees make up the shortfall? What about the costs for commissioning when the facilities reach the end of their life, like we're seeing today with the ski jumps at Winsport?

For me - it's possible that something reasonable can be agreed upon. But it's not being communicated at best, or hasn't been thought of at worst. Either way, it's something the voters should know before heading to the polls. All the Yes side has now is "free infrastructure" and "legacy". And no one is dealing with what that looks like financially 20-30 years down the road.

Legacy dollars for maintaining the facilities are included in the bid. 150 million or something like that. So this has been looked after.

[corporatejay]

Originally Posted by Senator Clay Davis

It's only getting spent in Calgary if Calgary spends $800 million on the Olympics and bears all the cost overruns. Sounds like a dog#### deal.

I understand they have secured insurance for cost overruns.

[Senator Clay Davis]

Originally Posted by corporatejay

I understand they have secured insurance for cost overruns.

What insurance company is insane enough to cover Olympic cost overruns? The premium must be out of control.

[stampsx2]

Originally Posted by Senator Clay Davis

It's only getting spent in Calgary if Calgary spends $800 million on the Olympics and bears all the cost overruns. Sounds like a dog#### deal.

A new field house in Calgary is $236 million assuming no cost overruns. Something Calgarians will be paying for on our own without any Olympic revenue.

Then there’s all the other infrastructure upgrades and updates that are on the list to get fixed in the next few years. If I’m not mistaken McMahon stadium is one of them.

[corporatejay]

Originally Posted by Senator Clay Davis

What insurance company is insane enough to cover Olympic cost overruns? The premium must be out of control.

I'm not sure, but I don't think they are lying and the premium is built into the overall cost of the olympics.

People seem to regurgitating a lot of points that are ever present regarding some of these events. Have you bothered to actually read Calgary's bid package or are you just using popular talking points to #### on the games?

[JBR]

Originally Posted by stampsx2

A new field house in Calgary is $236 million assuming no cost overruns. Something Calgarians will be paying for on our own without any Olympic revenue.



Then there’s all the other infrastructure upgrades and updates that are on the list to get fixed in the next few years. If I’m not mistaken McMahon stadium is one of them.

Don’t forget about affordable housing in Calgary and Canmore.

[Senator Clay Davis]

Originally Posted by stampsx2

A new field house in Calgary is $236 million assuming no cost overruns. Something Calgarians will be paying for on our own without any Olympic revenue.

Then there’s all the other infrastructure upgrades and updates that are on the list to get fixed in the next few years. If I’m not mistaken McMahon stadium is one of them.

City wanted to spend roughly $370 million, now has to spend $800 million to host, and getting a "free fieldhouse" is actually a legit take. Hilarious. But I didn't realize you were voting NDP next year since you suddenly love government spending. Strange turn of events to say the least.

[OMG!WTF!]

People and their understanding of financial risk truly fascinate me. I'd make this my thesis if I were a social scientist. Or smart in any way.

[JBR]

Originally Posted by Senator Clay Davis

City wanted to spend roughly $370 million, now has to spend $800 million to host, and getting a "free fieldhouse" is actually a legit take. Hilarious. But I didn't realize you were voting NDP next year since you suddenly love government spending. Strange turn of events to say the least.

Where are you pulling the $800M number from?

I see the simple math... this plus $700 from the Province equals the fed contribution , but there haven’t been any official sharing numbers announced yet. Let’s wait to dog pile until we know what the facts are.

[Senator Clay Davis]

Originally Posted by JBR

Where are you pulling the $800M number from?

I see the simple math... this plus $700 from the Province equals the fed contribution , but there haven’t been any official sharing numbers announced yet. Let’s wait to dog pile until we know what the facts are.

Considering Nenshi sent a letter threatening to cancel the bid based on the current funding model (or did you choose to just ignore that?), and that the Feds have confirmed the model, I'd say it's 99.9999999% confirmed.

[JBR]

Originally Posted by Senator Clay Davis

Considering Nenshi sent a letter threatening to cancel the bid based on the current funding model (or did you choose to just ignore that?), and that the Feds have confirmed the model, I'd say it's 99.9999999% confirmed. So to get to the $1.5 billion in free federal money, you need to get to $1.5 billion from the province and city. And since the province is steadfast that $700 million is it, I'll let you do the math to figure out the rest.

Yes, I get it. Thanks for making another condescending post.

This very well could be the case, and the prospects of a bid may be sunk.

Since you’re at 99.99999%, surely you must be directly involved in the posturing and ongoing negotiations. As I am not in the room, I’ll hesitate to use rumour and supposition as fact in my arguments.

[stampsx2]

Originally Posted by JBR

Yes, I get it. Thanks for making another condescending post.

This very well could be the case, and the prospects of a bid may be sunk.

Since you’re at 99.99999%, surely you must be directly involved in the posturing and ongoing negotiations. As I am not in the room, I’ll hesitate to use rumour and supposition as fact in my arguments.

From Maryland?

[Senator Clay Davis]

Originally Posted by JBR

Yes, I get it. Thanks for making another condescending post.

This very well could be the case, and the prospects of a bid may be sunk.

Since you’re at 99.99999%, surely you must be directly involved in the posturing and ongoing negotiations. As I am not in the room, I’ll hesitate to use rumour and supposition as fact in my arguments.

Hey if I was supporting a position that was heading to defeat, I'd hold out all hope possible too. Maybe there is an Olympic Hail Mary coming, who knows. But that's what the Yes side needs right now.