By SIMON CONSTABLE
The world is always revved up when the Olympic Games start. Tickets sell like hot croissants. The finest athletes in the world ready themselves for competition. And this year, Paris is the stage for it all. What’s not to love?
When it comes to money, quite a lot, actually.
Historically, hosting the games has been an economic sinkhole. Go back and look at the results, and you won’t find any gold medals here. More than half of the 11 Olympic Games since 2000, in fact, lost money—often billions of dollars—or barely broke even. “The balance sheets are usually in the red when it’s over,” says Konstantinos Venetis, director of global macro at TS Lombard. Read more here.
A young Mohammed Ali (1942–2016) wins first prize. Boxing light-heavyweight podium 1960 Olympics
Polish Press Agency (PAP), Public domain, via Wikimedia Commons
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