[from 2004-Aug-20]
… After a successful bid in 1997, citizens of Greece were pleased to find the Olympics returning home in 2004 after 98 years (actually 108 years because the 1906 Olympics weren’t official). However, much to their surprise, hosting the 2004 Olympics has sucked $10-12 billion (in U.S. dollars) out of the Greek economy. That’s more than five percent of the country’s annual gross domestic product! …
NBC is paying about $800 million for broadcast rights to the Olympics in the U.S. NBC expects to net a record $1 billion in ad sales for its Olympic coverage. Indonesia’s major networks decided a $1.35 million price tag was too much, though they are willing to dish out $10 million to air the 2006 FIFA World Cup. …
Since the Los Angeles Olympics in 1984, every hosting country has either broken even or made a profit on running the two-week event, but the costs are getting out of control. … If you think the Greeks overcommitted, the Chinese have budgeted $23 billion for the 2008 Olympic games — seven times more than the Sydney [2000] games, and 32 times what Los Angeles spent for the 1984 Games! …