Money is needed.
The 2032 Brisbane, Australia Summer Olympics event is six and a half years away but, as usual, the event organizers underestimated the amount of money needed for the Games. Brisbane’s 2032 Games is facing a budget crisis before any work has begun on any venues. Brisbane’s Olympic boss said the planned budget has “no resemblance to reality”. Brisbane 2032 President Andrew Liveris told the International Olympics Committee that the $4.9 billion Australia or $3.4 billion US operational budget has already been exhausted six years before the Games.
“We had the bid budget and that bears no resemblance to reality, especially right now due to the large dispersal of locations. So we are working with the IOC on the revised budget,” he said. “The delivery plan, in essence, gave us nine locations. These are nine locations that not only have a capital consequence but an operating consequence. The costing out of that we have the bid budget and that bears no resemblance to reality, especially right now. When we’re finished with that product, we’ll have these new locations, the new locations of small villages, transportation issues to get to those places.” There is no surprise that the initial budget figure bears “no resemblance to reality. It never does when it comes to the Olympics. Ask people in France about the “no resemblance to reality” budget for the Paris 2024 Summer Olympics. That event cost significantly more money than originally budgeted and taxpayers are on the hook for the extra costs. The French Court of Auditors revealed that organizing the Summer Olympics in Paris cost taxpayers nearly 6 billion euros or $7 billion US. That is a lot more than the one billion euros the government had originally promised as the maximum public contribution in 2017. The Olympics event is a money pit.
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