Winter Olympics in Korea. They've spent $100 million

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133743Hokie
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Winter Olympics in Korea. They've spent $100 million

Post by 133743Hokie »

building a new 35k seat stadium. It will be used four times -- opening and closing ceremonies for Olympics and Paralympics. Afterwards it will be torn completely down. The site is in a community of about 40k that has no sports teams or events that could use it on any type of regular basis, and the upkeep costs are very high, so they're going to demolish it.
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Re: Winter Olympics in Korea. They've spent $100 million

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133743Hokie wrote:building a new 35k seat stadium. It will be used four times -- opening and closing ceremonies for Olympics and Paralympics. Afterwards it will be torn completely down. The site is in a community of about 40k that has no sports teams or events that could use it on any type of regular basis, and the upkeep costs are very high, so they're going to demolish it.
Yipes.
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Re: Winter Olympics in Korea. They've spent $100 million

Post by HokieHam »

HokieFanDC wrote:
133743Hokie wrote:building a new 35k seat stadium. It will be used four times -- opening and closing ceremonies for Olympics and Paralympics. Afterwards it will be torn completely down. The site is in a community of about 40k that has no sports teams or events that could use it on any type of regular basis, and the upkeep costs are very high, so they're going to demolish it.
Yipes.
I was listening to a local radio guy this week. Said the Olympics are a loser for host nations. Interesting discussion. I wish I had written down the name of his book.
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Re: Winter Olympics in Korea. They've spent $100 million

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Then again, done right, they can be a windfall. Look at the Salt Lake City games. Most of the facilities they built are now part of the University of Utah and are a big reason they got into the Pac-12. The key is to host the games in a city that will continue to use the facilities after the games are done. See also Los Angeles, London, Atlanta, etc.
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Re: Winter Olympics in Korea. They've spent $100 million

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Hokie CPA wrote:Then again, done right, they can be a windfall. Look at the Salt Lake City games. Most of the facilities they built are now part of the University of Utah and are a big reason they got into the Pac-12. The key is to host the games in a city that will continue to use the facilities after the games are done. See also Los Angeles, London, Atlanta, etc.
After living in UT, all you heard about was how much a disaster hosting the games way plus they almost went bankrupt. It took a giant check from Mitt Romney to keep them from going under beforehand. They really should just rotate the olympics around to a few host places with all the infrastructure there. SLC, Norway, Austria, Vancouver for the Winter and pick your cities that have already hosted for the summer.

None of the olympics have made money in a long time from the narratives I've heard. It's like the World Cup. The best and most profitable World Cup ever was in the USA in 1994. The country that doesn't follow soccer made more money than any other and that's not even adjusting for inflation and it was because the infrastructure is already there. You just have to lay some new sod down and you're ready to go.
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Re: Winter Olympics in Korea. They've spent $100 million

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Hokie CPA wrote:Then again, done right, they can be a windfall. Look at the Salt Lake City games. Most of the facilities they built are now part of the University of Utah and are a big reason they got into the Pac-12. The key is to host the games in a city that will continue to use the facilities after the games are done. See also Los Angeles, London, Atlanta, etc.
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Re: Winter Olympics in Korea. They've spent $100 million

Post by cwtcr hokie »

133743Hokie wrote:building a new 35k seat stadium. It will be used four times -- opening and closing ceremonies for Olympics and Paralympics. Afterwards it will be torn completely down. The site is in a community of about 40k that has no sports teams or events that could use it on any type of regular basis, and the upkeep costs are very high, so they're going to demolish it.
yea the olympics money is crazy. With all the issues with the US gymnastics I wonder tho if the US will even have a team anymore.
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Re: Winter Olympics in Korea. They've spent $100 million

Post by CFB Apologist »

133743Hokie wrote:building a new 35k seat stadium. It will be used four times -- opening and closing ceremonies for Olympics and Paralympics. Afterwards it will be torn completely down. The site is in a community of about 40k that has no sports teams or events that could use it on any type of regular basis, and the upkeep costs are very high, so they're going to demolish it.
What they did in Lillehamer Norway was genius. They built the "ceremony" stadium at the bottom of the ski runs and integrated it into the downhill events. It was basically "temorary" but much cheaper and multi-use. I heard the famous billion dollar birds nest stadium in Beiging is basically vacant.
HokieFanDC
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Re: Winter Olympics in Korea. They've spent $100 million

Post by HokieFanDC »

ElbertoHokie wrote:
Hokie CPA wrote:Then again, done right, they can be a windfall. Look at the Salt Lake City games. Most of the facilities they built are now part of the University of Utah and are a big reason they got into the Pac-12. The key is to host the games in a city that will continue to use the facilities after the games are done. See also Los Angeles, London, Atlanta, etc.
After living in UT, all you heard about was how much a disaster hosting the games way plus they almost went bankrupt. It took a giant check from Mitt Romney to keep them from going under beforehand. They really should just rotate the olympics around to a few host places with all the infrastructure there. SLC, Norway, Austria, Vancouver for the Winter and pick your cities that have already hosted for the summer.

None of the olympics have made money in a long time from the narratives I've heard. It's like the World Cup. The best and most profitable World Cup ever was in the USA in 1994. The country that doesn't follow soccer made more money than any other and that's not even adjusting for inflation and it was because the infrastructure is already there. You just have to lay some new sod down and you're ready to go.
Not sure where that is coming from. The economic impact from the 2002 Olympics has been hugely positive, and the giant check from Mitt Romney bit sounds like a myth. Romney got a pile of money from the fed gov to help turn the situation around, and get the olympic budget back on track.
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