Cost of Calgary hosting Games is $4.6 billion

CALGARY — The price tag for Calgary to host the 2026 Winter Olympic and Paralympic Games will be about $4.6 billion, according to a bid exploration committee.

The Calgary Bid Exploration Committee (CBEC) told city council Monday revenue the Games generate would cover almost half the cost, but another $2.4 billion would be needed.

The 2010 Winter Games in Vancouver and Whistler cost $7.7 billion. Calgary’s estimate is lower because the city can reuse venues from the 1988 Winter Games, CBEC chair Rick Hanson said.

“Having pre-existing facilities made a significant impact,” Hanson said.

“On average, you would have to look at $1.6 billion in some cases to built the facilities that are necessary for the Games.

“Because we had existing facilities, we’ve got that number well under half a billion dollars.”

CBEC and city administration will make final recommendations to council on a possible bid July 24.

“I’ve always said I will be persuaded on this particular issue by the evidence,” Calgary mayor Naheed Nenshi said.

“Me and council and the public will have to really cogitate over this and chew on some of these numbers.”

With fewer cities interested in bidding for Olympic Games, the IOC has tried to make it easier and less costly to do so under an Agenda 2020 program that is essentially “reduce, reuse and recycle.”

Calgary fits that bill having invested in its 1988 venues, which still host international events.

But gaps exist particularly in hockey arenas. The city is currently negotiating with the Calgary Flames on location and who will pay for what in a new NHL arena.

Two NHL-sized arenas are needed to host a Winter Olympics, Hanson said.

Sion, Switzerland, Innsbruck, Austria, Almaty, Kazakhstan and Sapporo, Japan, are among cities that have also expressed interest in a 2026 bid.