The party is over
The International Olympic Committee President Thomas Bach seems to be singing the party’s over in the organization’s pursuit of cities and nation’s money to fund the group’s every other year sports event. Bach has seen city after city drop out of the Olympics bidding for both the summer and winter games. The 2022 Winter Olympics had only two applicants after a good number of countries including Norway, Switzerland and Germany said no to spending billions for Olympic events and the IOC has faced the same problem with just two bidders for the 2024 Games, Los Angeles and Paris. The 2026 bid committees are organizing right now but Quebec City, Quebec in Canada, Davos, Switzerland and Stockholm, Sweden won’t submit bids after thinking about hosting the Winter Games.
Bach is annoyed that local elected officials are listening to their constituencies and have told the IOC we are not interested. Bach said he does not “need to go into detail how the Olympic Games is used for political purposes by groups in some countries. The good old times are over with regard to candidature procedure.” Perhaps the trail of severe financial losses in many Olympics since the Montreal Games through the 2016 Rio Games and the projected financial losses of the 2018 South Korea and the 2020 Tokyo is impacting the IOC forcing Bach to say, the good old times are over with regard to candidature procedure. Bach does have big TV money coming to the Olympics because of a deal with America broadcaster Comcast-NBC through 2032 although that could change by the time the next TV deal will be negotiated in the future. Sponsors still like the Olympics despite allegations of doping and questions about Olympics bidding. Bach wants to sing Happy Days Are Here Again but instead he is singing, “The party’s over” and he is not too happy about that.