Five Cities That Got F*cked by Hosting the Olympics

Five Cities That Got F*cked by Hosting the Olympics

Every four years with the Olympics, municipalities compete to host the winter and summer games and virtually always plunge their cities, and sometimes even their home countries into massive debt and insolvency. Why? Because host cities inevitably spend double or more over initial estimates. Fewer people show up than expected. And the International, Olympic Committee, or I.O.C., takes bigger and bigger cuts of TV and other revenue streams. Sports economist Andrews Zimbalist says that a typical summer Olympics Generates up to six billion dollars in revenue, at least half of which goes to the I.O.C. Winter games generate even less money despite often being more expensive to host than summer games. cities routinely claim that whatever money they spend on new facilities will stimulate the local economy for decades to come. With the recent announcement that Paris will host the 2024 summer games and Los Angeles will host the 2028 summer games, Here are five cities that got F*CKED by Hosting the Olympics. Athens is the birthplace of the ancient games that inspired today’s modern municipal money pits. Its 2004 games cost $16 billion or ten times the original estimate. By 2010 more than half the venues built for the event were underused, completely empty, or literally falling apart. At $50 billion the Sochi winter games cost more than all previous winter Olympics combined, paid for by a dwindling supply of Russian petrol dollars and gold bullion. Boris Nemtsov documented that $21 billion went for embezzlement and kickbacks for businessman friends of Vladimir Putin. Nemtsov was later assassinated. Plagued by low ticket sales and partly due to the outbreak of the zika virus, the Rio games ended up costing $20 billion rather than the $13 billion backers claimed. And the showplace Maracana Stadium, which got a $500 million makeover, Was largely abandoned soon after the games and has had thousands of seats ripped out by vandals. The Beijing games cost $42 billion, a record at the time, even though Amnesty International charged that the Chinese government used forced labor to build many of the venues. The I.O.C. didn’t mind the stratospheric cost or the crackdowns on dissent, though. It awarded Beijing the 2022 winter games. The mayor of Montreal declared that the Olympics can no more have a deficit than a man can have a baby. Unfortunately it took Montreal 30 years to pay off its debt just for the main stadium built for the 1976 games. If there’s good news here it’s that cities seem to be wising up. Paris and Los Angeles were the only two cities to bid on the 2024 Olympics and the I.O.C. was so anxious that there wouldn’t be enough applications for 2028 that it preemptively awarded them to L.A. But just like with professional sports teams that extort tax dollars and subsidies for stadiums that never pay back their inflated costs, it’s likely the Olympics will keep finding new suckers for one of the oldest scams in sports.

100 Replies to “Five Cities That Got F*cked by Hosting the Olympics”

  1. L.A.? You would be safer to stay home and watch the games then to venture into L.A. What a s**t hole L.A. has become.

  2. I stopped on the "Maracanã stadium abandoned".
    It's one of the oldest and most traditional stadiums of Rio, as used as ever. It only got some renewals for the Olympics

  3. So…why do we still have Olympics? Haha. I thought we are supposed to learn from our mistakes…And China using forced labor to build their stadium. Wtf. Haha. Its as if 1×1=3. Yeah, it makeses none senses.

  4. 1. Rio
    2. Rio
    3. Rio
    4. Rio
    5. Rio
    Trust I'm a local
    Oh but Maracanã is being used again, it was just crisis not total abandoned

  5. Montreal and Beijing are Montreal and Beijing, you’re bullshitting if you think Montreal and Beijing stadiums are now abandoned

    Oh and Sochi is bullshit too, research next time.

  6. I like that my city London did make the list considering it was so recent. The great thing was we used so many existing or temporary venues and had clear plans for what to use the new venues for before we finished building anything.

    The only stupid thing was the athletics stadium not being built from the outset as a multipurpose athletics/football (soccer) stadium since it was obvious football is the one sport in the UK that would give it regular use.

  7. How did Sochi fuck up the Olympics? Because one dude died? Most likely he died at the hands of crime, not politics. He died in 2015.
    Russia held the best World Cup in 2018 and the best winter Olympics in 2014. All stadiums in Sochi work, all competitions are held, this video is just a throw. This video is either custom-made or made by a very incompetent person.

  8. The Olympic stadium in Montreal is still used sometimes. Last time I visited the observation tower had many tourists and amazing views and the stadium was converted into a zoo.

  9. It's amazing that the only thing you see about the Olympics is dollar signs. There's so much more than a dollar value to hosting an event where the world gathers in peace. Unfortunately most of society wants to think like you. Money rules over humanity. Good video.. Ha

  10. Maracanã abandoned??? Games between the local teams are held there every week! And even between brazilian teams and international teams sometimes. The stadium really is nome in its best conditions possible, for sure, but it is not "abandoned", since thousands of people visit it every week and lots of people work hard there everyday. =D

  11. Neither the Beijing Bird’s Nest stadium nor the Rio de Janeiro Maracana stadium are abanondoned. The latter has been Rio‘s largest football (soccer) club Fluminense‘s home stadium since it was built in 1950 and has been every since even after the renovation for 2014 World Cup. The only city that was financially “fucked“ because the Games they hosted brought more dept than revenue is Montreal, but even its Olympic Stadium is still in use.

  12. Los Angeles in 1932, and 1984, was NOT FUCKED.

    I agree with almost the enitrety of this video, except it excludes all American host cities which have either generated a surplus (Los Angeles 32', 84') or broken even (Atlanta 1996, Salt Lake City 2002)

    LA was even able to secure an additional $2 Billion for waiting till 2028 and is not building any new stadiums for their games.

    Again, while I agree with almost everything, there are exceptions to this.

    Barcelona 1992 would also beg to differ.

  13. Ok, Rio could be fucked by the Olympics but Maracana stadium is not abandoned. Make a research before do this kind of video.

  14. The Montreal Olympic Stadium is not abandoned. It is a money pit. Now they are going to spend 200 million dollars or more on a third roof.

  15. No city got FUCKED…….they fucked it up! Come to London and see how it’s done with great success. If we can do why could’nt other cities. I’ll tell you why, corruption and gread.

  16. And so exactly in this video a something error sarajevo no take the games in 1976 in 1984 the wimter games are in sarajevo and its abandoned by the disaster of war of yugoslavia in 1992-1995

  17. I think Calgary was one of the luckier host cities when it came to 1988, but I wonder if we'll be burned by the 2026 Winter Games bid. Who knows?

  18. Los Angeles has hosted two before and has been succesfull. No new venues will be built for the Olympics. L.A. is ready for it's third Olympic games.

  19. The IOC really needs to think about shifting their business model to one that houses the games at a permanent location charging entrance fees to countries who would like to compete and use that money to their heart's desire.

  20. Where to begin…

    Sochi didn’t get “fucked” by hosting the olympics. As of today, Sochi is year round vacation/tourist attraction. Much of the billions that were spent on 2014 Olympics went to transforming Sochi and that investment has clearly paid off.

    It’s also pretty fucking bizarre that the video insinuates Nemtsov was assassinated by Putin for his embezzlement allegations. This video is literally promoting disinformation. Nemtsov was killed by Chechens with very clear links to Ramzan Kadyrov, the Chechen dictator. Kadyrov had threatened to kill Nemtsov on multiple occasions because of Nemtsov’s critical work on Chechnya/Kadyrov. Kadyrov’s hit team was tracking Nemtsov for weeks (possibly months) and gunned him down.

  21. In the 1990's the International Olympic Committy took about 5% of profits in 2016 they took 70%. Cities can't make back what it cost to build the centers and infrastructure.

  22. The one thing they seem to forget about Montreal's Olympic stadium was that the Expos played 82 games there a year for about 25 years after the Olympics. Montreal would have had to build a new Stadium for the Expos either way. So it was anything but abandoned after the Olympics.

  23. Sochi is probably the most successful post-Olympic city. From a run-down Soviet resort town just a decade ago to a beautiful city now able to host many national and international various competitions and conferences every year. Five years after the Olympics, it has even gotten better and the mountain resorts continues to expand. Of course the western media would rather have this ignored as it doesn't fit their narrative.

  24. The Olympic Stadium is abandoned? I live here and there's some large event going on there frequently. Was it a colossal pain in the ass to maintain and fix? Yes, sure, but it isn't 'abandoned'. Years after the Olympics, the Montreal Expos played there for over 20 years, and was a huge venue for concerts, auto shows and trade shows. Exhibition games, season games of MLB, MLS and Champions League only happen there, and it is set to host a few matches of 2026 World Cup play.

    Sure it's an aging eyesore but it is nonetheless an important landmark of Montreal.

  25. R u Ffukcing serious? Do U know how many games and concerts hold in Beijing Birdnest stadium every year???? have u been there to take a look what a fucking tourist hosspot it has became????

  26. Sochi -huge succes, but us propaganda names it fail
    Rio – ok… many venues abandoned, but not Maracaná (used for brasil football league with attendance about 60.000 people every match)
    beijing – SRSLY? Another anti-eastern propaganda

  27. They didn't get fucked, they fucked themselves. London survived OK after 2012 .

  28. I agree with many things here and the general idea that it's a huge risk to host the Games. But the Maracanã stadium in Rio is used absolutely every week for football games, having usually over 50.000 people for the busy ones. Every now and then also hosts big concerts, such as the Rolling Stones. Get your facts right man.

  29. this is one of the most stupid videos i’ve seen in a while, the maracanã stadium in brazil is in perfect condition, and its the one of the host stadiums of the brazilian football league

  30. There is good news. People who live in free societies that can voice opinions and vote are saying No to the Olympics. Beijing was only chosen by the OIC because of their ridiculous demands and their insult to the King of Norway. The people and parliament of Norway united together and told the OIC to take their business elsewhere. Switzerland, Germany and Poland did the same.
    The Chinese Communist Party essentially told the OIC we'll give you whatever you want. So now the Winter Olympics will be held in a Communist Dictatorship in a country that has little winter sports. How many ski slopes were in China before now?

  31. Let Los Angeles be the final one for Olympics because it is more like the 1983 Video Game Crash. The Montreal Olympic Stadium must become the home teams stadium for soccer, NBA Basketball and MLB stadiums as that option so this won't be problematic anymore.

  32. Each country that hosted the games spent billions of dollars just to get millions back….I don't think it's worth doing the Olympic games anymore

  33. Why not the concept of a whole continent taking part on the Olympics? For example in Asia, Tokyo will have the opening ceremony while Manila will have the Basketball (you get my point) I think countries will have time to prepare because they're only focusing on a particular sport and not focus on the whole event in general.

    Edit: Sorry if some of my sentences doesn't feel right, English isn't my first language.

  34. I saw many people correcting the video cause not all stadiums are abandoned
    Like did you guys even do research or even gone there?!

  35. WTF???
    The birds nest in China and the stadium in Montreal aren't abandoned!!!

    So there are only 3 cities with abandoned stadium
    out 23 cities which have held the Olympics.

    So the rate of
    sustainable use of those gymnasium is 20/23=87%!!!!
    87% of the gymnasiums are NOT abandoned!!!!!

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