A cost breakdown of Calgary hosting 2026 Winter Games should city bid and win - InfoNews

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A cost breakdown of Calgary hosting 2026 Winter Games should city bid and win

Flying outside the Parliament Building of British Columbia, Victoria, B.C.
Image Credit: Wikimedia via user Smooth_O
November 03, 2018 - 9:00 PM

CALGARY - A quick look at estimated costs for Calgary and Canmore, Alta., to host the 2026 Winter Olympic and Paralympic Games, according to bid corporation Calgary 2026 revised host draft plan and Government of Canada figures.

Total estimated cost: $5.1 billion.

Public investment: Government of Canada, $1.45 billion; Province of Alberta, $700 million: City of Calgary $390 million, plus $150 million credit for previous financial commitment to improve a downtown district that would be a games hub; Town of Canmore, $3 million.

Private funding: $2.23 billion from games revenues, including a $1.2 billion contribution from the International Olympic Commitee in cash and services.

Contingency funds to mitigate financial risk: $1.1 billion.

Financial guarantor against debt: None.

Security budget: $495 million.

New Calgary sports venues proposed: $403 million for a multi-purpose indoor fieldhouse and 5,000-seat arena.

1988 venues reboot: $502 million to upgrade McMahon Stadium, Scotiabank Saddledome, Olympic Oval, WinSports sliding track and ski kill, Nakiska Ski Resport, Canmore Nordic Centre, BMO Centre and Big 4 buildings.

Note to readers: This is a corrected story. An incorrect figure for the security budget appeared in a previous version.

News from © The Canadian Press, 2018
The Canadian Press

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