The Rio Games Debt Remains A Problem

Rio’s Olympic Committee is in debt and is offering barter deals to pay off vendors

 

 

You have to give the organizers of the Rio Olympics and the International Olympic Committee a great deal of credit. Through a stage show, the Opening Ceremonies, they managed to sweep under the rug that there were protests against this sporting event and that police used rubber bullets and tear gas to quell some protests that lead up to the opening ceremony. But Rio organizers think that the opening ceremony was a drug for depression in Brazil. Rio de Janeiro more than likely should never have hosted an Olympics but the IOC in 2009 decided that was the best city and Brazil was the best country available for the 2016 event. The Brazilian TV show got great reviews in American newspapers. But reading stories from people outside the stadium, there is one phrase that is eye opening. Local residents have a name for the 2016 Rio Games. The exclusion games. The event is for rich people not the locals.

The opening show did impress. The song has ended but the melody lingers on. In Brazil it will linger on for generations someone has to pay for the song. The public cost of holding an Olympics gathering is in the billions and the IOC’s importance of building a “legacy” is way overblown. A look at the past 20 years of the event is worth exploring. The main stadium in the 1996 Atlanta Olympics will end its lifespan in September when the Atlanta Braves baseball ownership’s lease runs out and the team moves. The stadium will be knocked down. The 2000 Sydney Games left Australians with empty facilities, Greece is a financial mess despite the 2004 Summer Games. Beijing has already knocked down the main stadium from the 2008 Games, no one has a final bill from the 2012 London Games and the 2014 Sochi Games financially were a disaster.  The Olympics’ tab is way too costly a drug for depression. Rio has no money to pay the bills.

 

Bubba Watson competed in the Rio Games

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