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- 25 March 2024 - The high cost for hosting big sporting events
25 March 2024 - The high cost for hosting big sporting events
The place to go for conversations about the news
Annelise Taylor
March 25, 2024
Hello, News Clubber - welcome to another week where we get under the hood of another big issue that’s in the news a lot…
Longtime Squizers know our brains work in 3s - and sometimes so does the news… Last week, there were 3 examples of this growing tension between governments’ desires to bring big sporting events to our shores, and the high price that taxpayers have to cover to host those events.
Specifically, we’re talking about the Victorian Government’s decision to ditch the 2026 Commonwealth Games, and last week’s Auditor-General’s report that said the state’s almost $600 million in the hole. The Queensland Government pushed back against recommendations to build multi-billion-dollar stadiums for the 2032 Olympic Games. And in Tassie, the proposed $715 million stadium that will be home to the state’s newly announced AFL team was front and centre as an issue in its election.
This one isn’t contained to those events alone - it’s a debate that’s been going on for years around the world. So to help get heads around this topic, we’ve got 4 great Club Picks:
Want a presentation with arrows? You got it… This link takes you to the International Olympic Committee’s thinking on the expense of hosting the Games and how they’re trying to solve it.
Some analysis from John Verano from Oxford Uni on the risk and reward of hosting the Olympics, and why emerging nations/those with reputation problems are willing to pay the price.
And what’s happening with the Brissie Olympics? The Sydney Morning Herald’s Chris Barrett looks at the money and the people involved in deciding how to pull it off.
Melburnians are no strangers to the cost-benefit discussion… This article by Chip Le Grand in The Age dives into the economics of the Australian Grand Prix, an event which has been angering/delighting locals since 1996.
Confession time - we enjoy a big sporting event. It’s a thrill to see top sportspeople going their hardest with thousands of people cheering them on. We even don’t mind queueing up for the obligatory bucket of chips and the train home. But it’s an open question about what happens with these big events...
The News Club podcast is out tomorrow, and we’d like to know what’s on your mind and answer your questions - hit reply to this email if you have something for us. And following is a poll for you to give us your quick take.
Your friends in news
Kate Watson and Claire Kimball
We’re all ears
Do you think the legacy of hosting big sporting events (the infrastructure, tourism, etc) is worth the cost to taxpayers?Click to cast your vote - we're keen to hear what you think |
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