Calgary awaits federal financing on 2026

With the clock ticking towards a Calgary vote on hosting the 2026 Winter Games, what the federal government and the city are willing to spend remains unclear.

Calgarians will be asked in a Nov. 13 plebiscite three weeks from today whether they want to host the Winter Olympic and Paralympic Games.

Of the estimated $5.2-billion price tag to host the games, the Calgary 2026 bid corporation has proposed a $3-billion public investment split between the city, provincial and federal governments.

The remainder would be paid for via games revenues.

The Alberta government has committed what it says is a hard $700 million and refuses to cover any deficits. The city won’t release its number before the Canadian government does.

“I’m well aware of the timeline,” Calgary mayor Naheed Nenshi said Monday. “The feds too have agreed it’s really important the public have these numbers well in advance of voting.

“I expect a decision very, very soon.”

The federal government’s contribution under its international hosting policy for sporting events is “up to” 50 per cent of the public investment — which would be $1.5 billion in this case — but the feds have yet to declare a number.

Nenshi doesn’t believe the city should pay more than the province, so even with a maximum contribution from the Canadian government, the numbers don’t add up to $3 billion.

“If we get a number from the feds that is not close, along with the city contribution, to getting us to $3 billion . . . if it’s not close then we have to have a real conversation about whether we can afford this at all,” the mayor said.

Meanwhile, Alberta premier Rachel Notley suggested Monday after a meeting with oil and gas executives in Calgary that if government contributions don’t add up to $3 billion, then the International Olympic Committee could make up the difference if the IOC wants Calgary in the race.

Calgary, Stockholm and a combined Italian bid from Milan and Cortina d’Ampezzo were approved by the IOC as candidate cities, but Stockholm is getting cold feet.

“If there is a gap between what needs to be put forward and what is out there, perhaps maybe the IOC ought to be looking at what they could put in,” Notley said.