No 2020 Olympic Bid From Toronto

Toronto won’t be bidding for the 2020 Summer Olympic Games. The city was approached recently by a group of civic leaders looking for backing and funding for an Olympic bid.

But city councillor Doug Ford, Mayor Rob Ford’s brother and a close adviser, said Thursday the time is not right. He said no level of government can afford the money it would cost to host the Olympics.

He said, “we can’t, the feds can’t, the province can’t, it’s just not the time. Everyone would love it but financially no one is in the shape to take it”.

The CBC reports Toronto city council is in the midst of a debate over a $774-million budget shortfall.

Toronto is preparing for the 2015 Pan-Am Games that is expected to cost $96.5 million. The city will get a world-class aquatic centre venue for the event, and other facilities will be built in nearby communities.

Deputy Mayor Doug Holyday said, “that’s something in our favour, the Pan-Am facilities might be adaptable to the Olympics in some cases. But there’s still financial risk and cost involved in getting the bid, preparing the bid, and then running the event. In our situation right now we’re not able to proceed and I think it’s the wrong time”.