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Hosting The Olympics Comes With Hefty Price Tag

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Photo Credit: FABRICE COFFRINI/AFP/Getty Images)

Photo Credit: FABRICE COFFRINI/AFP/Getty Images)

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DENVER (CBS4) – Hosting the 2022 Winter Olympics could come with a hefty price tag.

The exploratory committee looking into the feasibility of bringing the games to Denver met for the first time on Saturday. The 22-member group is looking at everything from cost to infrastructure to venues.

The group believes Denver would spend $1.5 billion for the games. Vancouver spent $1.86 billion to put on the last Winter Olympics, but they also were able to pay it all off.

The co-chair says money would come from a variety of sources.

“The IOC contributes some money, you get a lot of money from sponsors, you get a lot of money from ticket sales,” said Don Elliman, Exploratory Committee Co-Chair. “It’s like any other major event. There are numerous revenue sources, as there are numerous sources of expense.”

The committee hopes to send a recommendation, for or against, to Mayor Michael Hancock and Gov. John Hickenlooper within 90 days.

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