Calgary 2026 Bid Corporation CEO Mary Moran delivers technical elements of its plan for the 2026 Olympic and Paralympic Winter Games to Calgary City Council, in Calgary, Alta., on September 11, 2018. THE CANADIAN PRESS/Jeff McIntosh

Alberta government says it would front $700M for Calgary Olympics

A draft plan for Calgary to potentially host the 2026 Games pegs the cost at $5.2 billion

The Alberta government says it will pick up $700 million of the tab if Calgary were to hold the 2026 Winter Olympics in Calgary.

The province says the money is contingent on a majority of voters supporting the bid in an upcoming plebiscite and increased transparency in the organizing process.

A draft plan for Calgary to potentially host the 2026 Games pegs the cost at $5.2 billion.

It suggests the city, provincial and federal governments should contribute $3 billion of that.

The remainder would be paid by Games revenue.

In a letter to the city, the province says it would not be able to cover any cost overruns or revenue shortfalls.

Calgary is holding a plebiscite Nov. 13 on whether the city should bid for the 2026 Olympics.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Trailer advertising on highways a provincial issue

Eyesores being discussed at different government levels

County approves hobby farm rezoning Aug. 8

Parcel hosts farm animal rescue operation

‘No Stone Left Alone’ returns to Wetaskiwin Nov. 2

Volunteers needed for poignant remembrance event

Wetaskiwin’s Horses of Hope event raised over $50,000

Organizers note 160 people attended charity dinner

Military posers insult real veterans: writer

Fake medals and bogus insignia insulting to service members

Crude-by-rail shipments fell to 310,000 bpd in August, energy regulator says

This, despite Imperial Oil CEO threatening to throttle back the company’s rail movements

Climate activist Greta Thunberg’s mural defaced in Edmonton

The eyes on the portrait were blacked out

Greta Thunberg meets with First Nations chief in Fort McMurray

Thunberg has turned her protest against climate change into a global movement

More beef products recalled due to possible E. coli contamination

The food safety watchdog has been investigating possible E. coli 0157:H7

Pot legalization has gone ‘well’, but ‘yellow flags’ on vaping: task force chair

Canada legalized cannabis for non-medical use on Oct. 17, 2018,

ELECTION 2019: Federal leaders hit final 24 hours of campaign

Many leaders remain in B.C. for the final hours of the campaign

Most Read