The countdown clock is ticking on the 2024 Summer Olympic Games.
The International Olympic Committee needs all bids from cities interested in holding the global games in by Tuesday.
We know Los Angeles has thrown their name in the hat, as has Paris and Hamburg among a few others.
Toronto Mayor John Tory, however has not yet made his decision.
He’s still humming and hawing over a decision that could cost taxpayers $50 million for a bid that may not even be successful!
Perhaps he should have made a decision a month ago, back when the city was basking in the post-Pan Am Games glow! At that time 60% of respondents to a poll supported an Olympic bid. Now, that support has slipped to 50%
It’s estimated that the Olympics would cost at least $7 billion in Toronto. That’s not easily paid off! Just ask Montreal. The last of their 1976 Olympic debt was finally paid off just a few years ago!
No official report has been released on the actual costs of the recent Pan Am Games, but sources suggest that overall the event came in at $57 million under budget, costing just under $3 billion.
So, what do you think Tory’s final response should be? Could Toronto handle all of the headaches that comes with hosting the Olympics? In a time when all levels of government are strapped for cash, can taxpayers afford to part with $7 billion for an event that lasts a few weeks?