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SBD Global/July 7, 2014/Olympics

Operating Expenses For 2010 Vancouver Winter Olympics At C$1.9B

More than four years after the 2010 Vancouver Winter Olympics, the organizing committee behind the Games "has released its final financial and operations reports, concluding the 17-day international event broke even," according to the GLOBE AND MAIL. However, the C$1.9B in total operating expenses cited by the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games "doesn’t include costly infrastructure such as the Olympic Athletes Village, the Canada Line or the Sea-to-Sky Highway upgrade -- leading critics to argue the final reports don’t cover the true cost of the Olympics." According to consolidated financial statements, the British Columbia government contributed C$113M to operating revenues, the federal government C$74M and other governments C$176M. The bulk of revenue -- C$731M -- "came from domestic sponsorships," while the IOC put in C$485M in contributions and C$174M in int'l sponsorships. Ticket sales brought in C$270M. In all, operating revenues and expenditures were both just shy of C$1.89B (GLOBE AND MAIL, 7/3).
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