Calgary Olympic Vote

September 11, 2018 6:51 pm
Updated: November 2, 2018 5:12 pm

Cost breakdown of Calgary potentially hosting 2026 Olympics

WATCH: Calgary Mayor Naheed Nenshi breaks down the 2026 Olympic funding proposal between the city, province and federal government.

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Editor’s note: This story has been updated with an estimated cost breakdown based on the updated Calgary 2026 host draft plan announced on Oct. 30

A quick look at estimated costs for Calgary and Canmore, Alta., to host the 2026 Winter Olympic and Paralympic Games, according to bid corporation Calgary 2026 revised host draft plan and Government of Canada figures.

Total estimated cost: $5.1 billion.

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Public investment: Government of Canada, $1.45 billion; Province of Alberta, $700 million: City of Calgary $390 million, plus $150 million credit for previous financial commitment to improve a downtown district that would be a games hub; Town of Canmore, $3 million.

Private funding: $2.23 billion from games revenues, including a $1.2 billion contribution from the International Olympic Commitee in cash and services.

Contingency funds to mitigate financial risk: $1.1 billion.

Financial guarantor against debt: None.

Security budget: $445 million.

New Calgary sports venues proposed: $403 million for a multi-purpose indoor fieldhouse and 5,000-seat arena.

1988 venues reboot: $502 million to upgrade McMahon Stadium, Scotiabank Saddledome, Olympic Oval, WinSports sliding track and ski kill, Nakiska Ski Resport, Canmore Nordic Centre, BMO Centre and Big 4 buildings.

WATCH: $5.23B, 2 provinces for Calgary’s 2026 Olympics bid

© 2018 The Canadian Press

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