When the opportunity to host the Olympics presents itself, the majority of cities’ residents enthusiastically embrace it. However, not everyone is as enthusiastic about the prospect of hosting the Olympics.
In the year 1896, the city of Athens, Greece, played host to the very first modern Olympics ceremony. Since then, it has developed into a highly desirable event, and nations are vying for the opportunity to be the country that will host it.
Throughout the past twenty years, the showcase event has been held in a number of cities, including London, Paris, Tokyo, and Beijing, among others.
As a result of the arrival of the games in the aforementioned locations, there was a significant increase in the number of spectators, athletes, and members of the media, which led to the growth of both the local and national economies.
Two years after the London Olympics, in 2014, it was reported that “the United Kingdom economy has seen a trade and industry boost in excess of £14 billion following the London 2012 Olympic and Paralympic Games, beating the four year target of £11 billion in half the time,” according to gov.uk. This meant that the Olympics had a positive impact on the economy of the United Kingdom.
This raises the question of why a city would turn down the chance to host the games.
Denver, Colorado, was given the opportunity to host the Winter Olympics in 1976, and the city had been granted the opportunity six years earlier. The Winter Olympics were scheduled to take place in 1976.
On the other hand, the games were never played.
According to reports from The Guardian, the International Olympic Committee (IOC) was informed by the Denver Olympic Organising Committee (DOOC) that there was a shortage of funds available for the event.
On the other hand, Denver’s loss turned out to be Innsbruck’s gain, as the Austrian city found itself in the position of hosting the games. This was due to the fact that it had already established the necessary infrastructure, having previously hosted the 1964 games.
In the beginning, the organisers in Colorado believed that they would require approximately $30 million to put on the event; however, by January 1972, they had already spent $1.1 million.
In response to reporters at the time, state representative Bob Jackson stated, “For that $1.1 million.”
Only one thing is in the possession of the Denver Olympic Committee. That constitutes authorisation to host the Games. There has been no expenditure made for the purchase of sites, housing, or transportation.
Jackson continued by saying, “We believe it is unrealistic to assume that Colorado can get by with that amount when expenditures at other sites have exceeded that ten or twenty times.”
There is still no other city that has turned down the chance to host the Olympic Games; Denver is the only one.
“Dick” Lamm, a former governor of Colorado who later ran for the presidency of the United States, admitted that the organising committee had “underestimated the costs.” Lamm was a candidate for United States president.
As stated by Lamm in an interview with Colorado Daily in 2009, “The organising committee here was in way over their heads.”
According to them, the benefits were overestimated, while the costs were underestimated. It was generally believed that Colorado did not have a sufficient understanding of the numbers, and it was highly likely that Colorado would be required to provide funding for dramatic expenditures.
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