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Rio declares financial emergency; requests funding for Olympics

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Could be the worst ever Olympics coming up.

10 ( +10 / -0 )

Awarding the Olympics to Rio could only be worse than awarding the games to Venezuela or Iraq. Lula's administration bribed IOC to get the games against the will of the population. Now we probably will see blackouts during some matcher, toilets without running water. Still in time to cancel the games.

11 ( +12 / -1 )

I fully expect the equivalent to a train wreck.

8 ( +8 / -0 )

That is so ghetto. . . how n' the hell did they get chosen to host the games in the first place??

This is why I hate 3rd world dumps. These people just can't get their acts together.

-6 ( +6 / -12 )

Hey, I thought the Olympics makes host cities and nations rich?

1 ( +3 / -2 )

Wc626: "This is why I hate 3rd world dumps. These people just can't get their acts together."

Tokyo won't be a whole lot better. They'll just finance the entire Games with debt. And after the Games are done...

But I agree whole-heartedly that Rio was a horrible choice. They should have, at best, been given a tentative okay for future Olympics on the conditionst that they cleaned things up. Giving them the Games and then expecting them to clean up in the lead to is always a bad idea.

4 ( +11 / -7 )

Tokyo won't be a whole lot better. They'll just finance the entire Games with debt. And after the Games are done...

Let's give Japan a lot more credit. Tokyo wouldn't let down the world. And Tokyo is a far safer city than than say, Rio de Janiero.

4 ( +12 / -8 )

That is so ghetto. . . how n' the hell did they get chosen to host the games in the first place??

Bribes

11 ( +11 / -0 )

Money is the least of their problems. They couldn't even find $20m in the budget for a sewer system, so the likes of Guanabara Bay are a festering mess - not to mention the sheer volume of trash that's in the waterways. Rowers will have to wear special full-body suits to avoid skin infections & viruses! What?!

7 ( +7 / -0 )

Maybe the Russians shouldnt be so disappointed by at being banned after all. Counting their blessings perhaps?

6 ( +6 / -0 )

I doubt if Tokyo will be broke by 2020 but you never know. Maybe they should heed Brazil's predicament and beg off while there's still time.

3 ( +4 / -1 )

Wonder how far they have processed with the Olympic venues, a few weeks ago it was reported they are still constructing them.

Add in the collapse of an Olympic track,. Zika, the locals don't the Olympics, etc, etc.

Similar to the Quarter WC, not surprised that are struggling to find Cities that are willing to host these events as previous ones have cost the Hosts too much or been a loss

2 ( +2 / -0 )

This issue really supports those who are pushing to have the Olympics be held in the same city, time after time (the most common idea being Athens, from what I've heard). It'd make a lot of sense - city after city wouldn't bankrupt itself to chase the lure of glamor and recognition, we wouldn't have the ghosts of Olympic stadiums and facilities which fell into disuse after the Games left, the panic of getting things done on time wouldn't demand the use of national funds like it is here. One city could maintain the facilities, get constant use out of them, and the venues could become historic (runners in 100 years might be proud to have a chance to run on the same track that Usain Bolt broke the world record on all those years ago). I have to admit, it does take some of the fun away, but it seems more and more like a practical plan.

7 ( +8 / -1 )

They can start by collecting the bribes paid to the IOC members in return for being awarded the Olympics.

(the most common idea being Athens, from what I've heard). It'd make a lot of sense - city after city wouldn't bankrupt itself to chase the lure of glamor and recognition, we wouldn't have the ghosts of Olympic stadiums and facilities which fell into disuse after the Games left,

Athens is the poster child for the economic catastrophe the Olympics can bring to a host city. Athens lost more than $17 billion hosting the games, and it was this loss which has led to the current economic crisis in Greece.

The Olympics needs to return to an amateur event with no professional athletes, and no advertising, like it was prior to 1988. With no sponsors paying tens of millions to hundreds of millions to paste their logos to the event, the lucre which inspires such vast costs and corruption would be greatly reduced.

4 ( +6 / -2 )

Central location Sounds good but it should be a new dedicated venue, upkeep should be the IOC's responsible either from donations or having a 'hosting' country cover the event. Athletes could train all year round.

I also fully agree to make it back into an amateur event, was fun seeing your country's athletes performing and wondering who will go Pro. This days Amateurs stand little chance against Pros, who already got existing events all year round.

1 ( +1 / -0 )

Brexit-II - No games in Brazil unless IOC assumes full responsibility and finds solution (money) !

0 ( +0 / -0 )

It's too bad for Rio, but I'm almost happy this has happened. Maybe now people will see how corrupt the Olympics have become, and how either there has to be a massive overhaul of the system, or just shut the whole thing down. I'm not even interested in watching them, there is nothing compelling.

5 ( +5 / -0 )

Tokyo wouldn't let down the world.

Agreed, if anything the Japanese will do everthing to make sure it's perfect.

The downside is will they be able to deal with potential British and Russian thugs.

-3 ( +1 / -4 )

The city of Boston doesn't want to host the Olympics. They said , no thanks. It's just too expensive. A challenge and risk not worth taking.

2 ( +2 / -0 )

This issue really supports those who are pushing to have the Olympics be held in the same city, time after time (the most common idea being Athens, from what I've heard).

Totally agree - and downsize them to encompass not much more than track and field, gymnastics, and swimming. Not that I dislike the other sports, but they have their own venues. There is no reason for team sports (basketball, baseball, etc.) or modern sports (skateboarding, BMX) to be in the Olympics.

4 ( +4 / -0 )

I attended the Los Angeles Olympics, which was the last amateur games. Los Angeles spent quite a small amount to host the games, and used existing venues. The LA Coliseum, built in the 20's, was repainted. The fighting events were held at the Anaheim convention center. Swimming and other events were held at university facilities. The Olympic village was made up of temporary buildings which were normally used as classrooms for public schools, and after the Olympics, that is where these buildings ended up. Tickets to the events were cheap, and in many cases, free. Some of the competitors were students from local universities, people whom I knew personally. It was a fun event.

In 1988, the Olympic games ceased being on ABC television, and moved to NBC. The first thing I noticed in the '88 Olympics were the endless commercials, which got as much air time as the events themselves. I stopped watching after the first day.

I don't plan on attending any of the events in the Tokyo Olympics, though from my apartment in Roppongi I can see Jingu Gaien park, the site of the new stadium. At least I will have a great view of the fireworks show.

3 ( +5 / -2 )

I hope Tokyo takes heed here (especially in keeping costs down before something like this would happen).

0 ( +0 / -0 )

Rio should be cancelled. IOC has to pay for it now anyway, it might consider just dropping it and paying back Brazil for its trouble if they understand any concept of self-preservation and want the Olympic brand to survive at all. The Zika virus alone was enough, the extensive pollution and floating dead fish was enough, the economic and political downfalls of Brazil were enough. Add it all together and enough really is enough.

The Olympics is no longer about sport, it's about how much money it can siphon out of a country. Cities worldwide were correct in abandoning the Olympics. Its scale is too much and well beyond now of successful Olympics of years gone by. Without a line being drawn, without a limit to the disaster in the end Rio just ensures no one will want it.

0 ( +0 / -0 )

This Olympics will be the worst ever! If the government is already requesting financial assistance that means not only is the Olympics is at state but other things such as the Brazilian economy and more. I think the Olympic committee is taking a big hit on this one and like every other Olympic once the games are gone the country's that host the games are left in the red. A third world country such as Brazil should have never been given the games it's like having them in the coliseum all over again. Zika virus, crime, the water in which athletes have to compete in is unsanitary wow the Olympic committee members really got PAID ON THIS ONE to make such a boot head mistake.

1 ( +1 / -0 )

How will Japan be paying for the money sucking Olympics? By issuing more debt eg JGBs which nobody will buy......

1 ( +1 / -0 )

The answer is N O !

0 ( +0 / -0 )

bruinfanJUN. 18, 2016 - 09:43PM JST I hope Tokyo takes heed here (especially in keeping costs down before something like this would happen).

keep cost down, no way that will happen with national pride at stake. Noise was made regarding the cost of the National stadium because it was designed by a foreigner, all the other olympic venues are way over the initial budget yet there was no uproar because they were designed by Japanese architects.

1 ( +1 / -0 )

When you believe a company's stock is going to lose value, you sell it short. Any good ideas on how to bet against the Rio or Tokyo Olympics and make money?

0 ( +0 / -0 )

When Rio de Janeiro was chosen for the Olympics in 2009, BRICS was the hottest item - that's why

But BRICS isn't what it once was. Many people wrongly thought that BRICS would continue to be the hot item for a long, long time.

0 ( +0 / -0 )

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