The cost would require $1 billion – $1.2 billion in public funds to cover the costs of renovating the venues, security, and contributing to the construction of athlete villages.
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The indigenous-led 2030 Olympic bid proposal is priced at between $3.5 billion and $4 billion, nearly a third of which would have to be covered by government contributions, officials with the proposal revealed on Friday.
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Publicly funded costs, estimated at between $1 billion and $1.2 billion, would include between $299 million and $375 million for the venues, primarily to renovate facilities to be reused for the Games; security costs of up to $583 million and a contribution of up to $267 million to develop accommodations in the Olympic village for athletes and officials.
The operating costs of a 2030 Olympic committee, estimated at up to $2.8 billion, would be privately funded by sponsorships, broadcast rights sales and merchandise licenses.
By comparison, the committee preparing a potential bid from Salt Lake City, UT for the same Games is working on an estimate of $2.2 billion.
The bid proposal, led by the First Nations of Lilwat, Musqueam, Squamish and Tsleil-Waututh, with the cooperation of Olympic Bid Canada, revealed its concept for a potential 2030 Olympic Games, which would involve three groups of venues in Whistler , Vancouver and Sun. Peaks/Kamloops and Friday revealed potential costs.
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However, that estimate does not include any potential infrastructure projects that governments may want to start or move up schedules before the Olympics, such as the $800 million Vancouver Convention Center and the $2,000 Canada Line rapid transit. million which pushed the actual costs of the 2010 Olympics to nearly $8 billion.
“First of all, we want to be responsible,” said Mary Conibear, of the bid proposal committee. “Vancouver 2010 has been regarded internationally as one of the most responsible and fiscally responsible Games.”
And considering that the 2030 bid proposal would primarily involve the renovation and reuse of existing venues, 2030 “is an opportunity to put the dollars to good use. So it’s not the same situation (as in 2010) at all,” added Conibear, head of impact and legacy for the bid proposal committee.
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“We all know we have a housing crisis here, we have a homeless crisis here in Vancouver, and this is really about unlocking the potential of host nations,” said Squamish Nation spokesman Chris Lewis, who used his name. Squamish Sxwíxwtn during the event. .
As an example, Sxwíxwtn said that the host nations will be able to offer the Jericho land that the MST association bought from the federal government as a site for Olympic village housing.
“We know that we must welcome the world, we must create economic opportunity and hope to meet the housing demands and housing crisis in Vancouver,” Sxwíxwtn said.
The committee is now working on a timeline that would see its representatives gain endorsement from Whistler, Vancouver, Sun Peaks and Kamloops councils, as well as participation from First Nations, including the four that share traditional territory around Sun Peaks. , by the end of August.
Federal and provincial approvals would be needed by the end of December for the International Olympic Committee to invite a bid committee for a “targeted dialogue” to draft an official bid.
Salt Lake City and Sapporo, Japan, are also vying for the 2030 Olympics, with the IOC expected to make a decision by June 2030.
more to come
