Once upon a time hosting the Olympics was considered an honor. Now most cities see it as financial suicide.
Just bidding costs about $90 million. Hosting the games costs billions.
Cities must build venues and athlete housing. They must lodge the IOC VIPs and others. They must shut down parts of their cities for a month.
Tourist dollars and prestige don’t balance the gigantic costs.
That is why the International Olympic Committee might break tradition.The IOC is considering giving a games to each of the two 2024 applicants.
Paris and Los Angeles competed for the next Summer Olympics. Rome, Budapest, Hamburg, and Boston all dropped out.
With the prospect of two willing cities this year—and maybe none later—The IOC might reward both applicants.
The IOC Executive Board meets on June 9.
It seems likely it will call for two final presentations.
The final vote will take place in September.
