This chapter explores the tumultuous series of Olympic events in the 1970s, including tragedies, boycotts, and fiscal disasters, leading to fewer bidders for the 1984 Games. It delves into Peter Uberoth's successful modernization and cost-efficient approach to organizing the profitable 1984 Los Angeles Games, emphasizing sponsorship revenues and private sector contributions. The chapter also discusses the historical financial challenges faced by hosting cities, leading to a decreased willingness to host the Olympics.
Ever since the first Olympics were held over a century ago, the Games have been known for dazzling sporting feats…and dazzlingly expensive opening ceremonies. Recently, the ballooning cost of hosting the Games has led residents in Boston, Rome, and Oslo to reject efforts to bring the Olympics to their cities. As a result, the International Olympic Committee is hoping to rein in costs – starting with Paris.
On today’s podcast, host Sarah Holder speaks with Bloomberg reporter Hugo Miller about the lessons Paris 2024 is trying to take from the first and only profitable Olympics held in Los Angeles in 1984 – and why no less than the future of the Games is at stake.
Read more: Faster, Higher — Cheaper? Paris's Budget Effort to Reboot the Olympics
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