OK, so the US Olympic Committee just axed Boston's bid for the 2024 Olympics. Boston is better off.
Los Angeles, Beijing, and London would tell you hosting the Summer Games was a good idea. Montreal, Sydney, and Athens would tell you hosting was a horrible idea. Boston is none of those cities. In fact, it's smaller than all of them, coming in just a hair shy of Athens, in terms of population, at around 650,000 people. And while the greater metro area includes about 4.5 million, well, there are 4.5 million people who should be thankful the city's mayor, Marty Walsh, is looking out for them.
Walsh came out Monday saying he wouldn't sign a proposal for the 2024 Olympic bid unless more details on finances were filled in.
I refuse to mortgage the future of the City away. I refuse to put Boston on the hook for overruns. And, I refuse to...
Posted by Marty Walsh on Monday, July 27, 2015
Winning an Olympic bid is a PR coup for any politician. But it can also be an economic boondoggle. Look no further than the balance sheets of previous Olympic hosts
. Athens lost an estimated $15 BILLION, and most of the venues constructed for the XXVIII Olympiad look more like the derelict house in a Scooby Doo episode
than world-class sports arenas. Hell, Montreal didn't pay off its Olympic stadium until 2006
-- 30 years after it hosted the Olympics, and two years after the Expos fled Canada. But at least the Alouettes (CFL) and Impact (MLS) play there sometimes?