Here’s how much a 2026 Olympic bid could cost Calgary

Hosting the 2026 Olympic and Paralympic Winter Games in Calgary could cost nearly $1-billion more than previously estimated.

Calgary 2026, the organization assigned with crunching the numbers behind a possible bid, says the price tag would be roughly $5.23-billion.

According to the draft plan presented on Tuesday, $3-billion would have to come from taxpayers, split between Albertan and Canadian taxpayers.

The remainder will be paid for privately via ticket sales, corporate sponsorship and a contribution from the International Olympic Committee in cash and services.

While the estimate comes in lower than Vancouver's price tag for the 2010 Winter Olympics of $7.7-billion, the calculations did not account for the potential rate of inflation, which is pegged at 2.25% annually.

New venues and plans to refurbish existing venues would include:

• A fieldhouse that would host figure skating and short track speed skating;
• A new mid-size arena capable of seating 5,000 to 6,000 spectators;
• Athletes’ villages built in Calgary and Canmore that will be released into the housing market post-Olympics;
• $502-million upgrade to McMahon Stadium, Scotiabank Saddledome, Olympic Oval, Canmore Nordic Centre, Nakiska Ski Resort and WinSport’s ski hill and sliding track.

The draft plan did not include where the curling events would be held and whether a new NHL-sized arena will be incorporated into the plan.

If the draft plan is approved by Calgary City council, a Nov. 13 plebiscite inviting all Calgarians to vote on whether or not to host the games will be held.

Reading through the Calgary 2026 Olympic venue plan. There’s so much recycling of 1988 facilities (Saddledome! Nakiska! Max Bell Arena!) that I’m surprised to see no proposals to refurbish Electric Avenue bars as well.

— Jason Markusoff (@markusoff) September 11, 2018

The overall costs of another Calgary Olympics, $5.23B, does not include any new public transit. I’ve heard from Games boosters boast about how the plan doesn’t add on extra things like that.
If it was me, I’d add on $500M and give city LRT link to airport. hashtag-legacy

— Jason Markusoff (@markusoff) September 11, 2018

THE OUT-OF-CALGARY OLYMPICS plans:
-Whistler, BC: ski jump and nordic combined, which means a bunch of the Finnish and Norwegian fans will skip Calgary altogether.
-Kananaskis prov park area hosts Alpine, not better Lake Louise in Banff. enviro issues.
-Curling: maybe Edmonton!

— Jason Markusoff (@markusoff) September 11, 2018

With files from the Canadian Press.