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Cost

ID: 36

ListCategory: Cost

Title: Cost

Subtitle: 2026 OLYMPIC AND PARALYMPIC WINTER GAMES BID

Description: <p style="text-align:left">The projected cost and funding of hosting the 2026 Olympic and Paralympic Winter Games in Calgary and surrounding areas can be found below.</p> <p style="text-align:left"><br /></p>

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2026 OLYMPIC AND PARALYMPIC WINTER GAMES BIDCost

The projected cost and funding of hosting the 2026 Olympic and Paralympic Winter Games in Calgary and surrounding areas can be found below.


Calgary 2026’s Draft Hosting Plan Concept - breaking down the cost


The cost of hosting the Games included in Calgary 2026’s Draft Hosting Plan is $5.11 billion, in 2018 dollars. The funding is divided into two parts:

Private funding: $2.233 billion
Public funding: $2.875 billion in 2018 dollars

Read more on Calgary 2026’s Public Funding Summary

Proposed public funding from each order of government

Government of Canada

The Government of Canada follows the federal policy for hosting international sport events. The policy limits federal contributions to a maximum of 35 per cent of total event costs and will not exceed 50 per cent of the total public-sector contribution to the event.

Contribution: $1.452 billion - cash

Province of Alberta

The Province of Alberta would have contributed funds based on the merits of the draft hosting plan and the potential benefits hosting the Games could bring to Alberta and Calgary.

Contribution: $700 million - cash

City of Calgary

City Council endorsed a bid exploration to determine potential benefits of bidding for and hosting the Games as well as potential alignment with The City’s long-term goals around economic opportunity, sport development, social development and cultural enrichment.

Contribution:

  • $370 million - cash
  • $20 million - premium for $200 million insurance value on potential cost overruns; $200 million value is matched by the Government of Canada.
  • $150 million - already approved by Council and committed to East Village road improvements; matched by the Government of Canada.

Canmore

On Nov. 6, 2018 Canmore Council voted to support Calgary’s potential bid on the 2026 Olympic and Paralympic Winter Games. 

Contribution: $3 million - cash

Potential benefits and risks of hosting the Games



Benefits

  • The City would get funding from other orders of government to build new and upgrade current venues. This funding may not be available otherwise.
  • The upgrades and construction of new venues would happen years earlier than if they were to go through the regular government funding process.

Risks

  • Assessing the plan may identify additional costs that fall outside the operating and capital budget in the draft hosting plan.
  • Costs may come in over budget.
  • The $2.2 billion in private investment (made up of the IOC contribution, ticketing, sponsorship and licensing) may not be achieved.
  • Future economic climates are unknown and may impact costs and revenues.
  • A good return on investment may not be achieved.

Ernst & Young cost-benefit analysis

The City of Calgary hired Ernst & Young to undertake a cost-benefit analysis of the Calgary 2026 Draft Hosting Plan Concept and proposed Public Funding Summary. This report:

  • Considers government financial, resident "consumer", environmental, economic development and social factors.
  • Is a tool for citizens and Council to consider their personal values in determining whether or not to support the proposed 2026 Games bid.

Ernst & Young Cost-Benefit Analysis of the Calgary 2026 Draft Hosting Plan
Calgary's proposed bid for the 2026 Winter Games; Summary presentation of the outputs of the cost-benefit analysis

Aligning with city priorities


The City is reviewed the proposed draft hosting plan to see how well it fits with Citizen Priorities, Council Directives, City policies, strategies and our long-term capital and financial plans.

The Council Directive directly linked to this topic:

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