An international Olympic committee executive says that the upcoming of winter Olympics games scheduled to be taken place in the Calgary is low risk for the Calgary. Executive says it would be premature to announce the actual prices cost coming on hosting the games. We are awaiting price tag to decide soon. He says the detailed costs are not expected by announced by the committee before the September. We will secure the public interest and will take every measure to safeguard the public interests in this regard. The international Olympic committee executive Christophe Dubi answered questions from the business community of Calgary at a chamber of commerce event.
He added that it is very unrealistic to demand the financial details of the hosting of games in Calgary. He says that the government is still trying their best to estimate the numbers of the people are going to be hosted in the games. He acknowledged that while considering the extent and range of such a project, people should know the all details at once. And that information should be provided to the citizen at the initial stage. But unfortunately, we are unable to provide the exact detail and numbers because there is a lot of work that is currently being done including the bidco and local government is doing its best to have all the right numbers and right assumptions about the hosting of games. And this process will certainly take much time and you will need to wait for it for some time.
Last time, the Calgary has hosted the Winter Olympic Games in 1988 and was held in nearby of Canmore, Alta. In this current scenario, the communities have yet to issue the bidding for the 2012 winter Olympic and Paralympic games. However, there are some rough estimates about the cost of the hosting of Olympic Games that will become the $4.6 billion. The games revenue will cover the cost nearly half times. In addition to this revenue, the IOC has also committed to giving the successful 20126 host city the US$925 million in cash and providing of services at very low costs.
If we compare the cost of other Olympic Games expenditure, the Winter Olympic Games 2010 in Vancouver and whistler cost about $8 billion. All aspects of the games hosting will take into the consideration while in the cost estimate, says executive of IOC. There is a great need to have the required numbers before us for doing proper planning and we have no serious issues regarding the timelines.
Whatever the deal it will be made, it wills a lot of our estimates and securing public interests. If we don’t get the safe and secured deal, we will not make such a deal, he assured. The deadline for the bid issuance is January 2019.
The vote on the host city will be done through voting by IOC members in 2019. The hosting of the Olympic Games is not an easy task. They are riskier projects. It is riskier than managing and taking responsibility for the nuclear power plant. The chamber of commerce has yet to make a decision on the issuance of the bid in 2019.