Holy Crap, did anyone read up on Greece's bill for the Olympics?
Almost 9 BILLION over the old budgie. whoops! :nuts:
It was in an article about NYC bid for 2012.....
We call it the 'winner's curse,"' Evan Osborne, who teaches sports economics at Wright State University in Ohio, said as he watched costs soar in Athens. "The cities that win the bid for the Olympics are the cities that most overestimate what they are worth."
Athens got another taste of sticker shock Thursday when Greece's 2005 budget was submitted to parliament and the cost of last summer's games was estimated at $14.6 billion.
That tally far exceeds the original estimate of $5.9 billion and made the games by far the most expensive in Olympic history. Sydney 2000 cost $1.5 billion; Atlanta 1996 cost $1.72 billion. Athens spent almost that much - $1.39 billion - on security alone.
Athens' bill does not include the future cost (more than $100 million a year) of maintaining $2.83 billion worth of new or refurbished stadiums and arenas
Almost 9 BILLION over the old budgie. whoops! :nuts:
It was in an article about NYC bid for 2012.....
We call it the 'winner's curse,"' Evan Osborne, who teaches sports economics at Wright State University in Ohio, said as he watched costs soar in Athens. "The cities that win the bid for the Olympics are the cities that most overestimate what they are worth."
Athens got another taste of sticker shock Thursday when Greece's 2005 budget was submitted to parliament and the cost of last summer's games was estimated at $14.6 billion.
That tally far exceeds the original estimate of $5.9 billion and made the games by far the most expensive in Olympic history. Sydney 2000 cost $1.5 billion; Atlanta 1996 cost $1.72 billion. Athens spent almost that much - $1.39 billion - on security alone.
Athens' bill does not include the future cost (more than $100 million a year) of maintaining $2.83 billion worth of new or refurbished stadiums and arenas
Hope they can handle it.
.
