People can be fans of the Olympics yet recognize that the International Olympic Committee (IOC) , through its competitive bid process and host city contract, gives the host city a raw deal.
Bottom line? The host city carries all of the risk of cost overruns. The IOC controls the process and structures benefits for itself but also structures the risks onto the host city. In 2018, as Calgary is just starting to come out of an economic downturn, is this the right priority and a reasonable risk?
The 10 Myths concerning Olympic Bids – Chris Dempsey, NoBoston2024
Host City Contract – International Olympic Committee has published the Host City Contract that would apply to Calgary2026.
“Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup,” 2016. Andrew Zimbalist, Brookings Institution Press
For all the writing on the Olympics, this work focuses on the impact on the host city by the IOC and FIFA.
“Even appropriately jaded readers are likely to be shocked by the evidence …which reveals the magnitude of the deception that precedes these events and the disappointment that follows.” The Economist
“Hosting the Olympics has become the contest no one wants to win, and the IOC is worried,” By Jessica Vomiero, Global News
“The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games,“ 2016. Bent Flyvbjerg, Allison Stewart, Alexander Budzier, University of Oxford