Toronto 2015 Pan Am Budget Slashed

CBC News reports the Toronto 2015 Pan Am Games committee says the Ontario government has cut the budget for the Pan Am Games bid by $300 million. Organizers have proposed a budget of about $1.8 billion, with most of the money to be spent on construction of new pools, stadia and an athletes’ village if the Golden Horseshoe region hosts the 2015 Pan Ams. The rest would be spent on staging the Games and looking after the 10,000 athletes, reports the CBC.

According to a senior official with the bid committee, the province has told them to cut their budget by $300 million, or about 17 per cent. The official said the cut wouldn’t have a dramatic impact but it could mean some municipalities in the region won’t get the same level of economic spin-off they might have been hoping for from construction of new facilities.

Instead of several permanent new pools, a couple of pools that could be constructed specifically for the Games might be temporary. Instead of being a permanent structure, a new velodrome could be torn down once the Games are over.

The official said a reduction in the budget is not surprising given the economic crisis that has gripped most of the world.