Exploring the Costs of the 2010 Winter Olympic Games 

FROM: JAN-FEB 2010 ISSUE | BY PEGGY HOMAN, EDITOR

There is a temporary structure on Georgia Street in downtown Vancouver displaying a digital clock counting down the hours and minutes until the opening ceremonies of the 2010 Winter Olympics on February 12. The countdown has been underway for several years and it is now a matter of mere days before the Games begin. Excitement is building in Vancouver, across B.C., and in many parts of Canada as the torch relay winds its way through numerous Canadian communities. But some tough questions about how the costs and benefits associated with the Olympics will translate into positives or negatives for taxpayers remain to be answered.

Our cover story takes an in-depth look at financing the Olympics. One of the greatest outstanding questions is just how much are the actual cost overruns? And exactly how much will the public be left to pay? Concerns along those lines have been building for months, and as a Globe and Mail columnist wrote in early January: “The period after the Games will also be challenging, as Mr. Robertson [Vancouver’s Mayor] tries to pry funds from a provincial Liberal government struggling to deal with a $2.8-billion deficit in an environment where the Liberals no longer have to coddle the Olympic city.”

The 2010 Winter Olympics will be the biggest media event in B.C.’s history. CTV and Rogers paid $90 million US to secure the broadcasting rights, and some estimates suggest the number of accredited media attending the Games will be close to 10,000. In the Profession feature you’ll meet Toronto-based CGA Neil O’Brien, finance manager for the Canadian Olympic Broadcast Media Consortium (COBMC) – a partnership between CTV and Rogers Media. It is an exciting role for Neil, who says, “the greatest opportunity working with CTV is to be able to say I was part of bringing the Olympic Games to the Canadian audience like never before.” Read more about Neil and the COBMC, as we are pleased to highlight yet another example of a diverse and interesting role filled by an accomplished CGA. 

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