Sunday, October 21, 2018

OilersNation (click link) had a great article on the 37th Anniversary of the Oilers joining the NHL through the WHA merger. Click the Edmonton Journal link to read the original article. You’ll need to pan around Edmonton Journal (click link)

I can remember losing the coin toss with my sister and she got to go with my Dad to the first home game. Oilers vs Detroit. October 13, 1979. I was 16 at the time, I’ve been fortunate enough to see some great games, but I’m still disappointed I wasn’t at the first.

June 13 1979

There was another article on Vancouver going after the 1988 Winter Olympics. The advantage they had was that Calgary had no NHL size arena and Vancouver had the Pacific Coliseum. They also said that Edmonton hosted the Commonwealth games, a larger event than the Winter Olympics, and made a $400,000 profit. Vancouver felt they should be able to make a profit on the Olympics if the larger Commonwealth games could make a profit. Vancouver had assigned a budget of $70 million for the 1988 Olympics. Read the article here.

What was interesting was that the 2010 Olympics cost significantly more.  22 years later and an increase of 26x. It definitely illustrates the skyrocketing costs of the Olympics.

In 2004, the operational cost of the 2010 Winter Olympics was estimated to be Canadian $1.354 billion (about £828,499,787, 975,033,598 or US$1,314,307,896). As of mid-2009 it was projected to be C$1.76 billion,[13] mostly raised from non-government sources,[13] primarily through sponsorships and the auction of national broadcasting rights. C$580 million was the taxpayer-supported budget to construct or renovate venues throughout Vancouver and Whistler. A final audit conducted by PricewaterhouseCoopers released in December 2010 revealed total operation cost to have been $1.84 billion and came in on budget resulting in neither surplus nor deficit. Construction of venues also came on budget with a total cost of $603 million.[14]

PricewaterhouseCoopers’ study estimated a total contribution to the BC economy of $2.3 billion of Gross Domestic Product, and as well creating 45,000 jobs and contributing an additional $463 million to the tourism industry while venue construction by VANOC and 3rd parties added $1.22 billion to the economy, far short of the $10 billion forecast by Premier Gordon Campbell. The study also said that hosting the Olympics was one of many reasons why the provincial debt grew by $24 billion during the decade. In 2011, the provincial auditor-general declined to conduct a post-Games audit

Source – Wikipedia.


XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>