Olympic Committee Does Not Want To Help Rio With Millions In Games Related Debt

[WhatInThe]

The International Olympic Committee doesn't want to help the city of Rio with $40 million in remaining debt from the 2016 games.

https://www.si.com/olympics/2017/07/09/ioc-not-helping-rio-olympic-organizers-debt

Sooner or later those checks have to be written. And they're a lot harder to write when the cheering stops.

 

[Don M.]

The Olympics have quite often been a disaster for the host nation. Seldom does the investment in this event ever pay dividends, and usually leaves a rotting infrastructure that costs even more to remove or repurpose.

http://entertainment.howstuffworks.com/10-olympic-games-bankrupted-host-countries.htm

 

[WhatInThe]

Even with the existing lessons of hosting extravagant sporting events Trump wants to bring the Summer Olympics to Los Angeles by deal, not a formal bid for the 2028 games.

http://www.washingtontimes.com/news/2017/jul/11/trump-tweets-hes-trying-get-summer-olympics-us/

That being said NBC paid almost 1.23 Billion Dollars for the 2016 games, just that tv money alone should've put a huge dent in the Rio games bill.

http://www.washingtontimes.com/news/2017/jul/11/trump-tweets-hes-trying-get-summer-olympics-us/

Who tracks and manages the money for a mega event like that. Or does the IOC consider the host city a contractor.

 

[Butterfly]

What I can't fathom is WHY LA would want to have the games there. Big hassle, huge expense, and security nightmare. I can't even imagine the increased traffic nightmare. I'd pay the games to stay away!

 

[WhatInThe]

What I can't fathom is WHY LA would want to have the games there. Big hassle, huge expense, and security nightmare. I can't even imagine the increased traffic nightmare. I'd pay the games to stay away!

'security nightmare'-The security bill for a Los Angeles Olympics would probably be over 1 BILLION dollars just for security.

http://www.dailynews.com/events/201...-olympic-games-would-be-costly-if-la-selected


Then the logistics of transporting athletes and personnel over the local highways would also become an issue because of security and time which means the local population gets screwed as usual on big mega events with detours and/or blocked roads.

The IOC should agree to pick up just about all the expenses no questions asked. They want the brand to survive they should pay for it. The local governments should not be left scrambling.

 

[Warrigal]

When the Olympics came to Sydney in 2000, Hubby and I left town and headed for Egypt, Greece, Turkey and Kenya.
However, I believe that it did go well and we caught glimpses of it on TV screens in various hotel rooms.

The infrastructure for the most part has been well used since. The Olympic Village has been converted to private housing and the Olympic Park precinct is well used. Only the velodrome has been a bit of a white elephant and is used as a training facility for footballers and amateur gymnasts.

What upsets me most about hosting international events like this is the way the city's poor get swept up and moved out of sight for the duration. They do not share in any economic benefits of such events.