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WINTER OLYMPICS MAKE PROFIT
Wednesday June 6, 2018 - Email this article to a friend

The Pyeongchang Games made a multi-million dollar surplus, according to the man responsible. Could it encourage more Olympic bids?



The President of the organising committee (POCOG), Lee Hee-Beom, said he predicted the next Winter Olympics in Beijing in 2022 would also make a profit.

It could be good news for those considering a bid to host future Games.

The International Olympic Committee has introduced reforms to keep down the costs of hosting an Olympics and win public support, following the withdrawal of several cities from the bidding process.

Potential contenders for the 2026 Winter Olympics are Calgary in Canada, Sion in Switzerland, Graz in Austria, Sapporo in Japan, Stockholm in Sweden, Erzurum in Turkey, and a joint Italian bid from Milan, Turin and Cortina d'Ampezzo.

Innsbruck in Austria withdrew after the people of the Tirol rejected a bid in a shock referendum result in October.

Sion holds its own referendum this Sunday and opinion polls suggest it's too close to call.

Calgary will go to the people later this year.

Sion 2026 bidSupporting the Sion bid

 

 

 

 

 

 

 

 

 



 

 

 

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"I was pleased to say that PyeongChang 2018 can already announce a multimillion-dollar surplus," President Lee said at the IOC's Pyeongchang debrief this week.

"It seems that Beijing will continue with this trend of Games that break even, or, as in the case of PyeongChang, make a profit.

The IOC President, Thomas Bach, said it showed that the reforms, known as Olympic Agenda 2020 , had come to fruition.

Thomas BachThomas Bach - photo Greg Martin IOC

 

 

 

 

 

 

 

 

 

 

 

 

 

"There you can see the tangible results of these reforms. The most obvious one is the announcement by POCOG that the PyeongChang 2018 Organising Committee has produced a multimillion-dollar surplus - even after not having fully benefited from the reforms of Olympic Agenda 2020.

"POCOG President Lee was clear that this was possible only because of the reforms of Olympic Agenda 2020, and because of the close cooperation with the IOC.

"There, you can see Olympic Agenda at work. This is what will lead us in the right direction for the future organisation of the Games.

"We have proved that we have turned the page with regard to the organisation of the Games."

For the next Winter Olympics in China, 11 of the 12 competition and non-competition venues in the Beijing zone are so-called "legacy venues".

They were used for the Beijing Summer Games in 2008 and will be adapted for the Winter Games.

These include the Bird's Nest Stadium, which will be used for the Opening and Closing Ceremonies in 2022.

Beijing 2008 Aquatics CentreBeijing 2008 Aquatics Centre

 

 

 

 

 

 

 

 

 

 

 

 

 

The Water Cube Aquatics Centre will be the curling venue. The National Indoor Stadium and Wukesong Sports Centre will host the ice hockey events, while the Capital Indoor Stadium will host figure skating and short track skating events.

The Beijing Organising Committee's HQ is at a former steel mill that was closed down in 2008 before the Olympic Games, over concerns of air pollution at the time.

This is where the Big Air competitions will be held in 2022.

Beijing 2022 HQ & Big Air venueBeijing HQ & Big Air venue - photo Beijing 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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