In 2018, the Rio games were estimated to have a total cost of $20 billion, far beyond the Rio organizing committee’s initial estimate of $2.8 billion. The city of Rio shelled out $8.2 billion on legacy builds, or builds intended to live well beyond the Olympic’s three-week life-cycle. Cities incurring overrun costs when hosting the Olympics is not just unique to just Rio; according to the Council on Foreign Relations, since 1960, every Olympics saw high overrun costs. As overrun costs become a growing concern, several cities withdrew their 2022 winter Olympic bids in 2014, citing the potential costs. The International Olympic Committee (IOC) enacted the Olympic Agenda 2020 in 2014; the agenda provided new regulations specifically to mitigate cost concerns. However, the IOC was faced with another challenge: hosting the Tokyo Olympics amid the Covid-19 pandemic.
Tag Archives: Sports
Analysis: The Business & Profitability Of Golf
In 2020, golf saw a surge in new players following the Covid-19 pandemic and social distancing measures. Callaway, the maker of golf balls, clubs, bags and apparel, has been thriving. But with movie theaters, travel and concerts expected to rebound, will golf club makers like Callaway and its rival Acushnet be able to maintain their momentum?
Extreme Sports: Kayaker ‘Flips’ Off Waterfall In Araucania, Chile (Video)
Kayaker Aniol Serrasolses descended a snowy mountain in his kayak before reaching a river where he performed a world-first flip off a waterfall.
The Araucanía Region of central Chile encompasses terrain ranging from the west’s Pacific coastline to volcanoes and the Andes mountains in the east. Its southeast, with many freshwater lakes and temperate rainforest, forms part of the Chilean Lake District. Nature reserves, including Huerquehue National Park and Conguillío National Park, protect ecosystems with lakes, rivers and forests of monkey puzzle conifers.
Views: ‘Kiteskating’ – A New Winter Sport In Latvia
A group of friends in Latvia have adapted their hobby to the harsh weather conditions to create a new sport they have dubbed ‘kiteskating.’
36th America’s Cup Final: Emirates New Zealand vs Luna Rossa Prada Pirelli
10 Mar 2021 – 21 Mar 2021The final event of the racing cycle, The 36th America’s Cup Match will see the defender Emirates Team New Zealand take on Luna Rossa Prada Pirelli, winner of the PRADA Cup, in an epic battle to keep – or claim – the America’s Cup. The winner will be the first team to score seven points.
Sailboat Racing: Luna Rossa Italy Tops UK INEOS In Prada Cup (Video Recap)
A strong boat, and an impressive sailing performance saw Luna Rossa Prada Pirelli beat INEOS Team UK by 7 victories to one in the Prada Cup final. The Italians will now go on to the America’s Cup itself.
Boomers: 70-Year Scottish Man Rows Solo 3,000 Miles Across Atlantic (Video)
Frank Rothwell, 70, from Oldham, Scotland set off from Canary Island La Gomera on December 12 and crossed the finish line in Antigua in the Caribbean on Saturday – reuniting with Judith, his wife of 50 years, with time to spare until Valentine’s Day.
He said crossing the finish line was a “completely euphoric moment” as he fundraised more than £648,000 for Alzheimer’s Research UK in tribute to his brother-in-law Roger, who died with Alzheimer’s aged 62 during his row.
Outdoor Sports: ‘Urban Rowers On The River Po In Turin, Italy’ (Video)
We wake up bright and early to meet creative director Luca Ballarini at a rowing club on the banks of the river Po in Turin. We follow his slender boat and glide along the river beside charming palazzi, castles and bridges, while the rest of the city comes to life.
Tokyo ‘2021’ Olympics: Japanese Public Favors Delay Or Cancellation
It is less than 200 days until the rescheduled Tokyo Olympics are due to get under way, but among the Japanese public, fears over the virus and the spiralling cost of the Games mean most would rather see the event postponed or cancelled altogether.
Extreme Sports: Norway’s ‘Finnmarksløpet Dogsled Race’ – Europe’s Toughest
The Finnmarksløpet in Norway is the longest and toughest dogsled race in Europe. Among this year’s competitors are Ben Voigt from Germany and 20-year-old native Hanna Lyrek. It’s a race that is always full of surprises and setbacks.
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