IOC won’t cover extra costs for 2026 Winter Games, official says

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The International Olympic Committee says it won’t contribute more than the $1.2-billion it’s already promised to help finance a possible Winter Games in Calgary, despite a call from Alberta Premier Rachel Notley for the international governing body to cover any financial gaps.

The federal government and the City of Calgary have yet to announce how much they’ll contribute to the 2026 Olympics and Alberta’s promise of financial backing has fallen short of expectations, leading to concerns about the viability of the city’s bid less than three weeks before Calgarians vote in a plebiscite to decide whether to pursue the event.

Speaking with reporters at Canada Olympic Park, in the shadow of facilities used for the 1988 Games, Christophe Dubi, the IOC’s executive director of Olympic Games, said that the organization has promised to contribute about $1.2-billion in cash and services to the city holding the 2026 Games. That’s more than the $700-million promised by Alberta’s provincial government.

“This is what we can commit at this point in time, which is a substantial contribution, if you compare it to the local authorities and their commitment at this stage,” Dubi said. He said any profit generated by the Games would be directed, in part, to the local organizing committee.

A draft plan for the 2026 Games estimated the cost at $5.2-billion, with the three levels of government expected to contribute $3-billion. Sponsorship and event revenue would cover the remainder. The federal government and Calgary are expected to announce within days how they will divvy up the remaining $2.3-billion of needed financing.

Neither level of government said it would cover any cost overruns and Calgary Mayor Naheed Nenshi has yet to say whether the city could bear the financial risk of increased security or construction costs. Dubi also said the IOC would not cover extra costs.

With Calgary facing only two other bids, which have each experienced some difficulties, Notley said on Monday that Alberta’s largest city is in a strong bargaining position with the IOC and should attempt to extract more concessions.

“If there is a gap between what needs to be put forward and what is out there, perhaps maybe the IOC ought to be looking at what they can put in. You know, there’s not a whole schwack of people out there begging for the Olympics. So maybe we should be a price giver, not a price taker on this one,” she said.

However, Dubi said the IOC considers the joint bid from the Italian cities of Milan and Cortina d’Ampezzo, as well as the bid from Stockholm, to be at the same level as Calgary’s. “The conditions in the other two cities are basically the same as here in Calgary, a lot of existing venues, which makes sense for us,” he said. “We feel we have three very strong candidates.”

Asked what he thought of Notley’s comment, Canadian IOC member Dick Pound, who is also a board member with Calgary 2026, said, "I think that overlooks what the IOC is already putting in and that our competitors may not make the same suggestion.”

Dubi asserted on Wednesday that the Calgary Games would be a “low-risk” venture for the city. He said the two biggest misconceptions in Calgary‘s bid have to do with the level of risk and possible cost overruns.

“Here, you have it all. You have the expertise, you have the experience, you have regular hosting and you have the venues,” he said. “There aren't going to be any cost over-runs here, I can tell you.”

Erin Waite, a spokeswoman for the campaign advocating for a No vote in Calgary’s Nov. 13 plebiscite, challenged Dubi’s assertion that holding the Games would come with few risks.

“Calgarians have been left with lots of questions only a few weeks before the plebiscite vote. If you were trying to buy a house with this amount of information you’d probably walk away,” she said.

With a report from Allan Maki