Barça Offers Prosecutors A Deal IPC Chief: Sochi Exceeding Expectations Poor Conditions Slow Paralympics Skiing LFP President Touts Recent Debt Reduction Sochi Paralympics Break Ticket Records Ukrainians Stage Protest At Paralympics Ukraine Undecided On Paralympics Boycott Heat Won't Affect Sochi Paralympics Atresmedia To Carry 200 Hours Of F1 Spain's Indurain Grand Prix Suspended
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/January 16, 2014/Olympics
France Considering Launching Bid To Host 2024 Olympics If It Meets Required Conditions
Published January 16, 2014
PRICE OF TORONTO BID STEEP: If the city of Toronto is "serious about making a bid" for the '24 Olympics, it needs to invest $912,000 "to do the necessary groundwork this year and should assume that none of the facilities under construction for the Pan Am Games are suitable for reuse," an Ernst & Young reported indicated, according to Elizabeth Church of the GLOBE & MAIL. The report stated that "'an immediate mobilization of resources' is needed if Toronto wants to bid" on the '24 Games. A formal bid would cost $45.6M-$54.7M, with the cost of of hosting at $3B-$6.3B (GLOBE & MAIL, 1/15). In Toronto, Betsy Powell wrote Toronto Mayor Rob Ford in '11 "rejected an overture for Toronto to participate in a bid" for the 2020 Games. Meanwhile, the report stated "time is of the essence" for Toronto in preparing a bid (TORONTO STAR, 1/15). Also in Toronto, Don Peat wrote Toronto's bid "might be a long shot with some councillors balking at the idea" of spending $1M to "keep studying the idea" and at least $50M to mount a bid. Ford said of launching a bid, "If you were to ask me right now, today, I'd say no." Toronto Economic Development Committee Chair Michael Thompson said that the city would be "hard-pressed to come up with the millions needed for further study and to mount a bid." Thompson: "There are a variety of other substantive things that are more impactful on people's everyday, day to day living" (TORONTO SUN, 1/14).