Should Calgary Bid on the 2026 Olympics

[sureLoss]

Provincial government comes up short

Meghan Potkins @mpotkins
�� BREAKING: The provincial government has offered up $700 million towards cost of Calgary hosting the 2026 Winter Olympic Games — falling short of the $1 billion that was hoped for by the city. �� More to come... #yyccc #ableg #cdnpoli #Calgary2026 #yyc

[sureLoss]

Meghan Potkins @mpotkins
Also: GoA won't provide any additional funding to cover revenue shortfalls or cost overruns associated with the Games. #yyccc #yyc #Calgary2026 #ableg

[Fuzz]

Basically "here's some quarters, you're on your own."

[Senator Clay Davis]

I guess I should have just waited until after lunch to come in here, could have avoided me and Muta going after each other now that the bid is basically dead with the provincial shortfall. I imagine that greenlights the Feds to come up well short too. And so we can start bitching back and forth about the arena now instead, just the way things were.

[DiracSpike]

So now the city has to cover their initial 1B, any costs overruns (because the Feds sure as sugar won't cover overruns) and now this additional 300m.

This is starting to run of control and we haven't even bid yet. Just vote NO on this plebiscite. We can fund the sporting infrastructure we actually want cheaper than committing to this white elephant.

[craigwd]

Originally Posted by GordonBlue

someone mentioned supporting the olympics because of arts festivals.

I've never been to an olympics. do they actually have arts and cultural events for winter olympics? never heard of such a thing. anything I've heard about at a games is always related to sports.

why would you even do that?. the idea I thought is to showcase the best of Calgary to the people from other countries, not promote theirs.

Yes absolutely.
The Olympic Games are more than sport - they are a celebration of sport, athletes and culture. The Olympic Charter even states that one of the principles of Olympism is the blend of sport with culture and education.

In 1988 Calgary held a 5 week festival up to and during the Games. I recall several events being held at Jubilee Auditorium including collaborative ballets from across Canada. Arts Commons was even moved to it's location in the 80s in the lead up to the Games.

In 2010 me and my family spent several days walking the streets of Vancouver checking out the sights and Indigenous exhibits in the buildings downtown, there were concerts every night in Richmond, ziplines and parties.

In 2015 during the Pan-Am Games I again went to several concerts and the various Indigenous and non-Indigenous Canadian art.

There was plenty of stuff to see and do in addition to the sports events.

[Parallex]

Originally Posted by Senator Clay Davis

I imagine that greenlights the Feds to come up well short too.

The feds commitment is expressed as a % so the less money the other two orders of government put in the less they put in.

[GGG]

I think the feds suggested their Max was 50% to total cost. So 3 billion / 2 - .7 = 800 million plus cost overruns.

I think that puts too much risk on the city as coming in 10% over budget / under revenue is very possible at this level of estimate even with the contingency currently factored in. So the city contribution based on our knowledge today is 800 million to 1.3 billion.

[OMG!WTF!]

I'd rather build 3 arenas and buy two more NHL teams.

[Hockeyguy15]

I’m out, and it’s an easy choice at this point.

[Oling_Roachinen]

Originally Posted by GordonBlue

the most culture most people will get from the incoming teams will be as a result of all the sex locals have with them. that seems to be the biggest event of any olympics.

Oh yeah, because it's the locals who are totally getting it on with the hot, fit, young elite athletes and not the other bountiful hot, fit, young elite athletes.

[GordonBlue]

Originally Posted by Oling_Roachinen

Oh yeah, because it's the locals who are totally getting it on with the hot, fit, young elite athletes and not the other bountiful hot, fit, young elite athletes.

there is that, but the coaches, support staff and media need love too.

[GordonBlue]

Originally Posted by sureLoss

Meghan Potkins @mpotkins
Also: GoA won't provide any additional funding to cover revenue shortfalls or cost overruns associated with the Games. #yyccc #yyc #Calgary2026 #ableg

this is the biggest kicker compared to them offering 300M less than hoped for.

[lazypucker]

I saw someone from the city is having a booth/display setup on one of the +15 bridges by Bow Valley about the Olympic bid. I just glanced at the display and did not talk to the person, but it seems like the person is keeping some sort of counts on how many people looked at the display or didn't give two sh*ts about it. Anyone knows what it really is?

[Bunk]

If the feds and IOC can make up that difference (with ~$150m more each), then it's a good deal.

City: $550m
Alberta: $700m
Canada: $1.65b
IOC: $1.35b
Games revenue: the rest

[Senator Clay Davis]

Lol at the IOC helping to make up the difference. Plus the current bid doesn't factor in the guaranteed 20% cost overrun, and now we know the city is on the hook for that. I get people's desperation for this thing, but it's looking like financial loser is the best case scenario to hosting, with total debacle absolutely in play.

[Parallex]

Originally Posted by Bunk

If the feds and IOC can make up that difference (with ~$150m more each), then it's a good deal.

The feds said that they'd do matching dollars no extra city/prov $$ then no extra federal $$. Good luck getting the IOC to kick in more but if they do it basically only lowers (not eliminate) the amount extra that the City would have to kick in.

[GordonBlue]

Originally Posted by Bunk

If the feds and IOC can make up that difference (with ~$150m more each), then it's a good deal.

City: $550m
Alberta: $700m
Canada: $1.65b
IOC: $1.35b
Games revenue: the rest

I'll grant you the 150 million to the IOC as they might be desperate for anyone to host.
but the "City" needs an asterisk as that number will change to cover any revenue shortfalls and the inevitable going over budget.

raise your hand if you think the city of Calgary will end up paying less than a billion. especially if the feds don't sweeten their suggested percentage.

[zhulander]

Originally Posted by Bunk

If the feds and IOC can make up that difference (with ~$150m more each), then it's a good deal.

City: $550m
Alberta: $700m
Canada: $1.65b
IOC: $1.35b
Games revenue: the rest

IOC Contribution (broadcast & TOP sponsors) $751
Other revenues (domestic sponsors, ticketing, merchandising, etc.) $1,404


IOC is only covering 750 mil, where are you seeing 1.2 billion for IOC contribution?

[OMG!WTF!]

The provincial money is also contingent upon a yes vote in the plebiscite. 49.9%=no money. Which is good so city council has to be honest about its decision.

Would there be money from BC as well if a bunch of events were held in Whistler?