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Federal and provincial governments reach agreement on funding for the Calgary 2026 Olympic bid

Calgary, AB, Canada / RTBN
Federal and provincial governments reach agreement on funding for the Calgary 2026 Olympic bid

Calgary’s City Councillors are voting today on whether or not to end their bid for the 2026 Winter Olympic Games. This comes only hours after Bidco reached an agreement with the federal and provincial governments on a revised funding plan.

Calgary’s Olympic Committee announced that a proposal was reached on Monday Evening. The new total for a bid for the 2026 Olympics is $2.85 billion and it will be shared by all three levels of government.

Under the new plan, the federal government will contribute $1.423 billion, the provincial government $700 million and the city $720 million.

The funding will include improvements to Victoria Park and Stampede access as well as an insurance redemption.

However, yesterday councillor Jeromy Farkas brought forward a motion to end the Olympic bid process altogether.

A minimum of ten councillors must vote in favour of the motion to halt the bidding process and stop the plebiscite.

-Storrm Lennie

 

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