Officials from Vancouver’s 2010 bid committee are in Toronto this week drumming up support from the media and from Bay Street.
The officials met with bankers, corporate executives, B.C. Premier Gordon Campbell, former Ontario Premier Mike Harris, Ontario Premier Ernie Eves and former Toronto 2008 head John Bitove.
The Globe and Mail reports Vancouver 2010 chief executive officer Jack Poole said the bid is being financed 50 per cent by the government and 50 per cent from private sources. He detailed the group’s $1.2 billion budget if it should win the Games, pointing out that the capital budget of $800 million for construction and upgrades of facilities has already been guaranteed by the B.C. and federal governments. Poole said that, based on the profitable Salt Lake City Olympics, the governments would get $2.5 billion value out of their $800 million investment.
Poole told the group, “we need your help to get there, frankly”. He said the $34 million would cover a technically flawless bid”.
Bitove, who headed Toronto’s unsuccessful 2008 bid, said Vancouver’s bid can be successful if fully financed.
“It’s a much more level playing field. Neither city (Vancouver and Salzburg) is a world player as we were up against in Beijing”.
The Globe reports that the CIBC, whose CEO John Hunkin hosted yesterday’s meeting, is already in for $1.5 million underwriting a program called “20 for 10” in which 20 youngsters advised by Olympians Charmaine Crooks and Steve Podborski will act as ambassadors for the 2010 bid.
B.C. Premier Gordon Campbell said an Olympics would give Canada a billion dollars in gross domestic product and billions more in free advertising around the world.
Ontario Premier Ernie Eves said, “I really do regard this as a Canadian enterprise, not a British Columbia or a Vancouver-Whistler enterprise”. Eves said he wanted to make sure the same fate doesn’t befall British Columbia as it did Toronto when it lost its bid to host the 2008 Games to Beijing.
“We in Toronto and in Ontario know a little bit about Olympic bids. We know that you can have the best bid, make the best presentation and not necessarily win. We as Canadians are committed to making sure that does not happen again”.
Should Vancouver lose its bid to host the 2010 Games, there is speculation that Toronto will try again for the 2012 Summer Olympic Games.
