Toronto will not be pursuing 2024 Olympic bid: reports
Posted Sep 15, 2015 06:38:30 AM.
This article is more than 5 years old.
Mayor John Tory has decided that Toronto will not be making a bid for the 2024 Olympic Games, according to multiple media reports citing sources familiar with the deliberations.
The deadline to submit a formal application to the International Olympic Committee is 6 p.m. on Tuesday.
Tory has scheduled a news conference for 9:30 a.m. on Tuesday at city hall to discuss his decision.
A source with knowledge of the discussions told The Canadian Press that Tory made the decision after he received a lack of firm support from the province and lukewarm enthusiasm from potential sponsors.
A “no” decision may reflect the most recent views held by Torontonians.
A new Mainstreet Research poll for Postmedia released on Monday found support for the bid is slipping, down to 50 per cent from 58 per cent in August.
Forty-seven per cent of respondents say they are opposed to Toronto making a bid, which is up by nine per cent from last month.
As of Sunday, Tory was still undecided.
“I have a little bit of time left and I am going to take, as I said earlier, take all the time that I have and all the time I need to make sure that I try to do the right thing,” Tory said on Sunday.
According to the poll, 62 per cent of respondents approve of the job Tory is doing as mayor. Maggi said the political risks for him may not be worth it in the long run.
“He would need to win two more terms (2018, 2022) to reap the political windfall of hosting the 2024 Olympics,” he said.
The deadline for cities to register their interest with the International Olympic Committee is on Tuesday, with the winning city to be chosen in 2017.
Just bidding on the Olympics alone costs $50 million. And the event could cost as much as $6.9 billion, according to the city’s feasibility report from January of 2014.
With files from The Canadian Press
