On Monday, Boston killed its bid to be the United States Olympic Committee's bid for the 2024 Summer Olympics. One of the main reasons is the financial burden on taxpayers, but there's more to why a city like Boston might back out of an Olympic bid.
Over the past several years, it would appear that nations, if not them, their cities, are more reluctant than ever to bid on hosting a future Olympic game.
The 2022 Winter Olympics are a perfect example of this. Every nation that has a city capable of hosting the games have dropped their bid. Sweden and Norway, which are built for the Winter Olympics, withdrew their bids due to a lack of political and public support.
Why no support? Well, take a look at some of the demands from the International Olympic Committee.
Some of the demands are obvious ones. Others, which treat the IOC members as if they are royalty are ridiculous. Cities would already be spending billions of dollars to build new facilities or renovate current ones to meet a certain standard.
The Winter Olympics in 2022 are down to two candidates. Beijing, which just held the 2008 Summer Olympics, and Almaty, a mountain resort town in Kazakhstan, which should bring back memories of Sochi. Also, the closest mountain suitable for skiing events is more than 50 miles from Beijing.
Anybody wish Norway had kept its bid? John Oliver's presentation to have his Last Week Tonight studio host the games looks tantalizing.
Aside from what the requirements are for a host city, holding the Olympic games can either be a benefit or a disaster economically.
You have the success stories like London, and the horrible nightmares like Greece. London saw a boost in its economy following the 2012 Summer Olympics, while Athens, whose 2004 Summer Olympics are the most expensive in the history of the games, fell into debt and are currently dealing with a tremendous economic decline.
Hosting the Olympics theses days in an economic roll of the dice at a roulette table. You either come out big, or you come out behind. Boston decided to step away from the table, unsure about all the risks they would be taking if they were to host the games.
Now, another American city will be selected. Los Angeles, who last held the Summer Olympics in 1984, seems to be the early clubhouse leader. Toronto, Paris, Rome, Budapest and Hamburg are all expected to submit bids, too. Even "new money" nation Qatar has considered submitting Doha as a possible host city.
Los Angeles would be a good replacement bid. It's a safe bid for the United State Olympic Committee, and it might have a better chance to compete against the likes of Paris, Rome and Toronto.
But would the people of Los Angeles want the Olympics? They're currently trying to gather and save as much water as possible, and can't even decide how to go forward with bringing an NFL team to town.
It call comes down to whether or not a city wants to take the economic risk.