Pro-bid group estimates Cost of games At $5.8B
Estimates put expense of Games at $5.8B, offset by hopeful cost-sharing plan
The cost of Calgary hosting the 2026 Olympic and Paralympic Winter Games would be about $5.8 billion, according to new estimates compiled by the bid advocacy group Yes Calgary 2026.
The anticipated cost would be offset by estimated operating revenues of $2.5 billion, with about $3.3 billion to be covered by the federal, provincial and municipal governments, a downtown luncheon crowd hosted by the Calgary Booster Club was told.
Calgary’s portion of the bill would be about $500 million, if a cost-sharing agreement can be reached that leaves the city responsible for just 15 per cent of the overall cost of the Games.
Yes Calgary 2026 suggested a fair division of costs would see the province shoulder 30 to 35 per cent of the costs, with the remaining 50 to 55 per cent paid for by the federal government.
In exchange, the group envisions Calgary could receive a new field house, a replacement arena for the Corral, upgrades to existing facilities, an endowment fund to support the legacy of the Games and affordable housing for thousands of residents.
No mention was made of an arena to replace the aging Saddledome during the presentation.
The group said its figures are based on data gathered by the Calgary Bid Exploration Committee and the Vancouver 2010 Olympics.
“These are our best guesses,” said Yes Calgary 2026 spokeswoman Emma May. “This is what we hope to see. What we’re really trying to do is frame what is a good-for-Calgary bid. We think this is one Calgarians can have faith in and understand what the costs are.”
May said her group isn’t in favour of a bid that includes a lot of “extraneous” projects such as an LRT to the airport, a new NHL arena or a rail line to Canmore, Banff and Lake Louise.
“Let’s have a really clear conversation about what we need to run an Olympics and what those costs look like (without) going and building in all of these external infrastructure costs, which really need to be separate conversations apart from what a bid is about,” May said.
The group pointed out that by hosting the Olympics, Calgary could leverage provincial and federal dollars to complete muchneeded upgrades to existing sport facilities more cheaply than if the city were to pursue refurbishments without the Games.
May said city council’s decision to hold an off-ramp vote on whether to continue with an Olympic bid next week has lent some urgency to the “yes” campaign.
“We really believe that Calgarians should have the opportunity to vote on this,” May said. “There really isn’t that much information (on the bid). So we’re really trying to fill that void right now with as much clear, focused information as we can and get council to give us the opportunity to have that public vote on it.”
The figures presented by Yes Calgary 2026 are estimates based on the group’s vision for what it calls a “principled” bid and are not official numbers.
City councillors were briefed on the actual estimated operating and capital costs of hosting the Games in a closed session with the bid corporation last Tuesday.
The public won’t hear the hosting plan details until Sep. 10 or 11, when council is scheduled to vote on whether to continue pursuing a bid.
But reacting to the news Thursday, Coun. Sean Chu suggested the numbers cited by Yes Calgary 2026 looked at least a little familiar.
“I cannot say yes or deny because I’m not supposed to disclose anything that was confidential,” Chu said Thursday.
“However, I’m not the only councillor who, when we saw this (information), we all went, ‘what the heck is going on? How do they know about this information? Where or who did this information come from?’
“I cannot help myself but be cynical. It’s all who you know.”
Several councillors have suggested they will decline taking the off-ramp to ensure Calgarians get the chance to weigh in on the question of hosting in the November plebiscite.
One organizer working on the “yes” campaign suggested council will likely vote against taking the off-ramp by a margin of at least 11-4 at next week’s council meeting.
Coun. Druh Farrell said with the details of the official cost-sharing agreement still unknown, there remains a lot of uncertainty surrounding a possible bid.
“Speculative musing isn’t helpful at this point,” Farrell explained.
“Calgarians need accurate information In order to make an informed decision.”