$771K per athlete was the cost of the olympics!!

[LH]

NBC made a $79million profit, they spent about $700million. Which means the Olympics generate a huge amount of cash flow. The SLOC said they more than broke even. $1.9billion was spent on the Salt Lake games, more is being spent on Athens. The Olympics generate a ton of money, Salt Lake had major money problems, and they still came away with a profit. As for the venues, they have a $40million fund to keep the venues going for a long long time. The only real venues they need to spend money on are the canyon course(theres only 2 in the US), the oval and the sking venues. Its not a waste of money, it brings in much more money than it spends. Add up all the cash it brought in, from all aspects, it probably tops $4billion.

About Athens, hopefully since they are spending more than Salt Lake on security, some nut job from 17N doesnt blow up some americans. Salt Lake spent close to $500million on security, Athens is going to spend more, and they are getting help from the US Secert Service. Athens has the potential for major problems... Theres no wonder why it got beat out for the 1996 summer games. To qoute an american track star "I wouldn't advertise yourself as being american", "Everytime Im here Im looking over my shoulder"... The next two summer games can be potentially be scary for american athletes, although, the only threat in China is their government, and I don't think China would be that stupid, Greece on the other hand has terrorist problems.

 

[sandorski]

That figure is kinda pointless.

BTW, over $300 million was spent on security alone!

 

[fatalbert]

so, they made the money back.

 

[spanky]

after 9/11... better safe than sorry..

 

[b0mbrman]

<< Lol, some people seem to think the Olympics don't bring the host city any money!
Haha, why do you think there is such fierce competition? Because cicties are just dying to spend all that money on 15 days of sprots, or because it will bring billions of dollars in profit? >>


Yep.

 

[Skyclad1uhm1]

Who spent the $771K/athlete, and who gained money from the event?

 

[AUMM]

I heard on the news several times that they broke even.

 

[abaez]

You think that's expensive, China is spending 8 billion on the Games in Beijing.

 

[d1abolic]

Damn. With spendings like this, i don't see how the Olympics can be good for the economy. No wonder Montreal is still trying to pay off their debts after two decades.

 

[Skyclad1uhm1]

<< I heard on the news several times that they broke even. >>



Shrug, the government prolly spent most of the cash, but who made the most on it? If you'd give me $1,000,000 we'd break even in total, but still I'd be the winner among the two of us...

The taxpayer payed most of it, the broadcasting companies prolly made most money out of it.

 

[joohang]

Damn..

 

[Nemesis77]

Let's see... Where did they spend all that money:

Security
Constructing the stadiums etc. etc.
Hiring workers
Upkeep of the athletes & workers
Tidying up the city
Setting up the infrastructure
Setting up the beginning & closing ceremonies
etc.
etc.

 

[Czar]

I think its pretty cheap concidering what you gain from it.

Profits from TV rights
Profits from tourists
Profits from future tourists
That the fact the US held the 2002 Winter Olympics

Money is being spent stupidly all over the world in more stupid things you could ever imagine, the Olympics is not one of them.

 

[rahvin]

<< The taxpayer payed most of it, the broadcasting companies prolly made most money out of it. >>



Couldn't be more wrong. Headline on the SLC Tribune this morning is "Olympic Payback's a Boon", stupid title actually but basically SLOC is paying back the taxpayers 58.5 million, and funding the 40million dollar fund to maintain the facility this afternoon. The story can be found on sltrib.com I'm sure.

 

[Skyclad1uhm1]

<<

<< The taxpayer payed most of it, the broadcasting companies prolly made most money out of it. >>



Couldn't be more wrong. Headline on the SLC Tribune this morning is "Olympic Payback's a Boon", stupid title actually but basically SLOC is paying back the taxpayers 58.5 million, and funding the 40million dollar fund to maintain the facility this afternoon. The story can be found on sltrib.com I'm sure. >>



60 million is peanuts if it cost several billions though.

 

[Koing]

OF COURSE THE GAMES MADE MONEY. All the games since the LA games have been making a PROFIT.

Just like other businesses they all make money. Why do you think big companies pay stars like MJ millions to wear there stuff? As they MAKE more money back. etc etc.

That $771 wasn't spent per athlete its the total cost divided by each athlete so thats the cost of what they spent *for* each athlete if they break it down.

As for the facilities another benefit of the Olympic games is that the the place where it is built can use it afterwards, so thus making new facilitie become available to the people at no extra cost to the place as it was allpaid for and made a profit. WIN WIN WIN situatin I'd say if it all goes smoothlyl.

 

[GSOYF]

I don't know if that number is accurate...seems a bit high, but if it is that is disgusting.

 

[Thrillhou]

That is alot of french fries and condoms, even on a per athelete basis.

 

[Capn]

that number is not really accurate.

As others have said that number is calculated by figuring in total costs of the event and dividing by number of athletes. Some of these facilities will be used for many years and will continue to generate revenue. It's not as if one athlete decided not to come that anyone would save $771k.

 

[Hallzy]

< - - Highly doubts that the $771k per athlete figure is correct

reason = Canada sent over 120 Athletes to the games. The cost would have been $92,520,000 Seems very odd. Because Canada would not blow that kind of $$$ like that, nor Russia for that matter (they are kinda broke)

 

[Amused]

<< i agree, no matter how much we all may have enjoyed the festivities, that's money that would have much better been put towards helping feed the starving and cure the sick... it's just like all professional sports though, a giant waste of money. >>



Utter bullsh!t. The money spent went to boost the economy of Salt Lake City, and pay hard working folks who built the venues, and worked them. Money doesn't just disappear, you know. It's put back into the economy by the people who EARN it.

Now, had we simply spent that money to feed "starving" people, they'd be full for a week, and "starving" again next week.

Altruism is nice, until you grow up realize how the world really works.

 

[Amused]

<< < - - Highly doubts that the $771k per athlete figure is correct

reason = Canada sent over 120 Athletes to the games. The cost would have been $92,520,000 Seems very odd. Because Canada would not blow that kind of $$$ like that, nor Russia for that matter (they are kinda broke) >>



The cost figures in all costs. Security, building costs, etc.

 

[SpecialEd]

As long as the money spent ends up in the hands of American workers... who cares!?

Also.. who spend the money.. the US gov't, Salt Lake City, private companies? or is it a total combined thing. Governments spending tax money is one thing... but private companies can to whatever they damned want with their money. one can say other wise.

 

[PlatinumGold]

it's been said here before, but comon.

the olympics are HUGE for the host cities. HUGE.

in atlanta for eg. the olympics paid for all the stadiums that they were gonna build ANYWAY. just saved the city HUGE amounts of money, plus all the REVENUE generated for the city during the olympics. all the tourists etc.