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Olympics cost overruns should make bid cities ‘walk away’ from the Games, say researchers – ABC News
The Olympics needs radical thinking and serious change to stop huge cost overruns that threaten to make the Games unviable, according to Oxford University researchers.
“The best Games ever” are being remembered in Sydney and around Australia 20 years after Cathy Freeman lit the cauldron to signal the start of the first Olympics of the new millennium.
Key points:
- According to Oxford University researchers, the 2000 Olympics in Sydney cost $6.91 billion, a cost overrun of 90 per cent
- But the paper found the average Olympic Games budget is exceeded by 172 per cent
- The researchers are calling on the International Olympic Committee to chan…
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