The Toronto Star‘s Betsy Powell writes about how the City of Toronto’s budget committee is unexcited by the idea of Toronto bidding for the 2024 Olympics.
Not a single member of the city’s powerful budget committee is endorsing Toronto entering the race to host the 2024 Summer Olympic Games.
Toronto has only a slim chance of submitting a winning bid, and even if the cash-strapped city is selected, the Olympics could prove to be financial boondoggle for years to come, councillors said after the committee met Monday to begin discussions on the city’s 2016 budget.
Several councillors said an outright no to a bid, while budget chief Gary Crawford and Councillor James Pasternak said they’d only consider Toronto advancing a bid if the cost — estimated at between $50 million and $60 million — is paid for by the private sector.
Toronto is under pressure if it wants to try to secure the 2024 Olympics, an idea that appeared to gain traction after the success of the recent Pan Am Games, the largest sporting event in Canadian history. Los Angeles is poised to enter the contest — its city council is expected to vote Tuesday — and is considered a frontrunner. LA2024 has already released a copy of its bid.