News recently broke that San Diego has been en encouraged to put in a bid to host the Summer Olympics a decade from now in 2024.
An article from ABC 10 News, a local news station affiliate, recently detailed some San Diego officials’ willingness to pursue putting in a bid.
However, according to the article, not everyone is in agreement; San Diego State University Sports MBA Director Scott Minto says that historically, cities that win the games pay a huge financial price.
“We've got water, we can do that, we've got sand we can do that… but when you look at the economic reality of having to host the games, what the IOC requires of you, all of the infrastructure that needs to be built, all the security costs, everything that's going to expand in the next 10 years … the city and the country are always left holding the bill," said Minto.
10News did the research and found some examples. Greece spent lavishly on the 2004 Athens games, with final budgets landing billions of dollars in the red and going 60 percent over budget.
Montreal's 1976 games left the city $1.5 billion in debt. It took three decades to erase. The final payment was made just in 2006.
"I'm worried what would happen in the long term future for what would be an outstanding two weeks of excitement and celebration in San Diego." said Minto. "I know that the plans for Tokyo were along those lines, to use a lot of renovated existing venues, but I'm hopeful that it works out. I love their enthusiasm. I love when San Diego is in the mix for something like this, but as somebody who lives here and knows the reality of our city and our capacities, we certainly have the hotel rooms but it's going to cost a lot of money no matter how you look at it."
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