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Rio Games Sees Budget Increase By 25% In Wake Of Project Delays, New Transit Plans

04 / 18 / 14

Brazilian authorities "unveiled an infrastructure budget" of $10.76B for the 2016 Rio Olymipcs, which is 25% "more than planned, as they try to reassure the world they can deliver facilities on time," according to Pedro Fonseca of REUTERS. The budget "covers 27 projects in urban development and publ...

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Tags: Olympics, Brazil

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09/10/13
Ex-USOC CEO Applauds Wrestling's Return

Former USOC CEO and Olympic wrestler JIM SCHERR Sunday led off the wrestling federation's (FILA) presentation to the IOC. He was among the group that erupted and pumped its fists the moment after IOC President Jacques Rogge announced that wrestling received enough votes to stay in the Olympics. Sc ...

Tags: Olympics

09/10/13
Norway Residents Oppose 2022 Olympics

Residents of Oslo, Norway hit election booths Monday "threatening to do the once unthinkable: vote against a bid for the Winter Games because of cost concerns," according to Ellen Emmerentze Jervell of the WALL STREET JOURNAL. Norway, which claims the highest medal count in Winter Olympics hist ...

Tags: Olympics, Europe

09/09/13
Tokyo Awarded 2020 Summer Olympics

The competition to host the 2020 Olympics was not a beauty contest. It was a contest to see which candidate city could best conceal its blemishes. Tokyo won that battle, with ease. After all, what’s a minor nuclear leak today compared to an economy that is in tatters or violent crackdowns ...

Tags: Olympics, Japan

09/09/13
Olympics Bid Could Boost Japan Economy

Tokyo's winning bid to host the 2020 Olympics may boost construction and tourism stocks and give a lift to consumer confidence, "playing into Prime Minister Shinzo Abe's plan to revive the world's third-biggest economy," according to Nohara & Kawano of BLOOMBERG. Hosting the games can creat ...

Tags: Olympics, Japan

09/09/13
IOC Gives Wrestling Second Chance

Seven months after being dropped from the Olympic program, wrestling persuaded the IOC to give it a second chance. The sport received 49 votes from IOC members, giving it a first-round majority over competitors baseball and softball (24 votes) and squash (22). Representatives from wrestling’s ...

Tags: Olympics

09/09/13
Madrid 2020 Disappointed For Third Time

The Madrid 2020 Olympic bid "hoped it would be third time lucky for Madrid, but it was three strikes and you're out this weekend," according to Paul Hamilos of the London GUARDIAN. On Sunday morning, Madrid "woke up to the hangover of an economy that continues in crisis, youth unemployment at record ...

Tags: Olympics, Europe

09/09/13
IOC Finances Rise Close To $1B

The IOC's financial reserves "edged close to" $1B in '12, up from $105M when outgoing President Jacques Rogge took over 12 years ago, according to Karolos Grohmann of REUTERS. Rogge, who succeeded Spaniard Juan Antonio Samaranch in '01 and is stepping down on Tuesday, "has overseen an unprecedented ...

Tags: Olympics, Europe

09/09/13
IOC: Syrian War Cost Istanbul 2020 Bid

Two IOC members said that "the bloody Syrian civil war cost Istanbul votes over Tokyo to host the world's biggest sporting event in 2020," according to REUTERS. Istanbul -- "who had been trying to bring the Olympic Games for the first time to a predominantly Muslim country" -- reached the ...

Tags: Olympics, Europe, Asia

09/09/13
Barcelona Considering 2022 Olympic Bid

Spain "has one look at Buenos Aires and the other in the Pyrenees," according to Celes Piedrabuena of MUNDO DEPORTIVO. The choice of Japan over Madrid for the 2020 Games "was followed very closely by the Barcelona-Pyrenees 2022 Winter Olympic bid." Logic "indicates that choosing Madrid would damage ...

Tags: Europe, Olympics

09/09/13
Gill: IOA Must Be Role Model

Calling on the Indian Olympic Association to sort out the administrative mess which led to India's suspension from the Olympic movement, Indian Hockey Federation patron and Chief Adviser K.P.S. Gill on Sunday said that "the overhauling should put in place a system so clean and efficient that it ...

Tags: Olympics, India

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