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Toronto 2024 Olympic Bid (Dead)

Eug

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The two aren't exactly comparable. One is a 70,000 seat stadium built for the summer Olympics, the other is an NHL size arena built for the relatively small-time winter Olympics. Big difference.
The real big difference was the relative cost.

Saddledome: $98 million, or about $200 million in today's dollars:
Big O: $770 million, or about $3 billion in today's dollars.

The Big O was a complete disaster.
 

toforumer

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There is no question that Toronto will probably have the strongest and best bid out of the field for 2024. But the reality of it all is can the city compete with a new frontier in Africa? Durban or Cape Town, South Africa might bid for 2024 as well. Their bid definitely will not be as strong but the strongest bids don't win all the time.

Anyways, the 2024 race would be the easier run when looking at the set of projected bidding cities compared to its past two bids.
 

toforumer

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Ugh, I knew Toronto should have bid for 2020! Damn you Rob Ford!! lol:p

It looks as if Rome is about to drop out of the 2020 Olympics race! Madrid is in not in a better situation with their economy, Baku and Doha will not get shortlisted. This is gonna be a Istanbul vs. Tokyo battle. Toronto could have easily taken on both these cities on a final ballot successfully!

Competition is hella weak for this cycle.

Baku
Madrid
Tokyo
Istanbul
Doha

Decision Day Friday For Rome 2020
Thursday, February 2, 2012 4:29pm EST GB Staff

Italian Prime Minister Mario Monti is set to decide Friday whether Rome will continue its bid for the 2020 Summer Olympic Games.

Deadline for a final decision on a Rome 2020 bid is February 15 when the Italian Government must present its bid to the International Olympic Committee (IOC), but since Monti is visiting the United States next week to meet with President Barack Obama, the decision has reportedly been moved ahead.

Italian Olympic Committee (CONI) head Gianni Petrucci told Italian media that he was concerned about the decision.

He added that it didn't make sense to assume that there would be a bid for the 2024 Games, saying if the decision was not to bid for the 2020 Games, it would have already been made.
 

unimaginative2

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I don't understand why South Africa is putting Durban forward as its bid city. Cape Town would be a much better candidate.

I agree that Toronto would have a great shot at 2020. Too bad...
 

kkgg7

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The problem is Torontonians seem mostly against bidding for the game, shortsightedly thinking "we are a great city and we don't need an Olympic Game to show it." or associate the Game with nothing but debt. It is unfortunate that despite the city's impressive growth, many still prefer it being a small comfortable town nobody cares about.

I agree that Toronto probably is among major cities in developed countries in the best position to hold an Olympic. Another Tokyo Olympic will be boring. Not many people are still interested in Japan or Tokyo despite its size. Did I mention Japan's population will shrink by 1/3 by 2060?
 

Lenser

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Calling Toronto a small comfortable town nobody cares about is a stretch. It's ludicrous.

There are good reasons to be cautious about mega-loads of debt thanks to botched Oympics preparations. Montreal is still an excellent example of a city forced to pay down its gargantuan Olympic debt over the course of several painful years. And this particular town is struggling with funding for infrastructure as it is. I'm not saying Toronto shouldn't pursue hosting the games, only that it's serious business and we're talking about a city in a province that can't even agree on what transit projects should be funded by whom.
 

sixrings

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olympics would be the best way to leverage all 3 levels of government for the drl. for this reason alone i support it.

greece olympics only expediated their downfall, it was inevitable. also greece had major delays because any time they were building they could find ancient artifacts which would cause the work to stop and huge financial costs of recovering the item before continuing construction. Thats not likely to happen here.
 
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kkgg7

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Calling Toronto a small comfortable town nobody cares about is a stretch. It's ludicrous.

There are good reasons to be cautious about mega-loads of debt thanks to botched Oympics preparations. Montreal is still an excellent example of a city forced to pay down its gargantuan Olympic debt over the course of several painful years. And this particular town is struggling with funding for infrastructure as it is. I'm not saying Toronto shouldn't pursue hosting the games, only that it's serious business and we're talking about a city in a province that can't even agree on what transit projects should be funded by whom.
You misunderstood me. I am not calling it a small comfortable town nobody cares, I am saying many people prefer it being like that. What I am implying is Toronto is not achieving its potential just because many people oppose change or refuse to embrace something bigger and grander.

Debt is an issue for only those who aren't capable of managing it and using it to their advantage. Public debt itself is not a bad thing. In fact it is a way to stimulate ecnomy if handled properly. Fearing it does no good.
 

kkgg7

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you can't forget what the olympics did to greece!:p
this kind of thinking is like saying "look at those who lost tons in stocks during the financial crisis! This is why I never invest one cent in the stock market".

The Beijing Olympic made $150 million in operating profit alone, despite the gigantic cost, not to mention what a boost to the city's economy, employment, image and global status. The effect will be long lasting.

Considering the cost, Beijing hasn't been immensely successful in terms of pure profitability, however, we all know China basically didn't care about the cost and only focused on impressing the world at that time. Atlanta 1996 and Sydney 2000 had a much smaller budget but reaped $877m and $230m in profit respectively. Actually Athens is the only one what lost money in the past 4games.

Opposing the Olympic Game just because someone lost money before is like deciding not to make any investment just because stock price may fall.
 

jn_12

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this kind of thinking is like saying "look at those who lost tons in stocks during the financial crisis! This is why I never invest one cent in the stock market".

The Beijing Olympic made $150 million in operating profit alone, despite the gigantic cost, not to mention what a boost to the city's economy, employment, image and global status. The effect will be long lasting.

Considering the cost, Beijing hasn't been immensely successful in terms of pure profitability, however, we all know China basically didn't care about the cost and only focused on impressing the world at that time. Atlanta 1996 and Sydney 2000 had a much smaller budget but reaped $877m and $230m in profit respectively. Actually Athens is the only one what lost money in the past 4games.

Opposing the Olympic Game just because someone lost money before is like deciding not to make any investment just because stock price may fall.
I'm in favour of an Olympics but this is all BS. There is absolutely no way to measure profits/losses when it comes to an event like the Olympics. I have no clue where you're getting such precise numbers but I can assure you they're wrong.
 

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