No Blank Check for the Olympics Boondoggle!

The International Olympic Committee asks host governments to guarantee that the Games will go on as planned in the bid documents, no matter the cost.

The International Olympic Committee asks host governments to guarantee that the Games will go on as planned in the bid documents, no matter the cost (you can find confirmation of that guarantee on page 78 of this document). The document states: “To ensure the financial security of each edition of the Olympic Games, the IOC requests that a guarantee covering any shortfall in the OCOG budget is provided in the candidate city phase.”

Denver2030 is asking Colorado taxpayers to write a blank check for a $10+ billion, three-week festival. Taxpayers don’t write a blank check to the Denver Marathon or the Rockies. We don’t write one for our public schools or our police and fire departments. Why would we write one to the IOC? Sign the petition below to join Colorado residents who do not want to sign a blank check for Denver 2030.

Denver2030’s boosters will claim that they will purchase insurance to protect city and state taxpayers from Olympic cost overruns. Certainly, such protection is needed: an Oxford University study found that every Olympic Games since 1960 has cost more than its initial budget. But after years of secretive planning, Denver has still not presented the public with an insurance policy that would protect taxpayers if things don’t go according to plan. Rather than creating a responsible bid, Denver2030 is counting on taxpayers to fill out a blank check.

– Chicago2016’s insurance policy, which could be the “model” for Denver2030’s bid, covered less than half of the risk to taxpayers. One Chicago Alderman called the insurance plan, “a leap of faith.” Crain’s Business Journal wrote, “In many key areas, no insurer stands between taxpayers and the risk of revenue shortfalls or cost overruns.”

– For further reading on proposed Olympic insurance policies:

Chicago 2016: Agility key in insuring Olympics, Chicago Tribune

Peeling Back the Coverage, Crain’s Business Journal

Read the IOC’s Host City Contract for the Winter Games

We say "NO" to the Olympics in Denver!

Hello Task Force Member:

Colorado voters should decide if we are prepared to spend billions to subsidize an Olympic boondoggle.

Olympics are a proven failure and a drain on communities. Denver doesn’t need it. As community members in Denver and Colorado, we emphatically say “NO” to hosting the Olympics in 2030. Though we oppose the Olympics in Denver, we believe the public should decide.

Numerous studies show that the Olympics do not create economic growth. Yet the International Olympic Committee (IOC) asks host governments to guarantee that the Games will go on regardless of cost -- Colorado taxpayers don't want to write a blank check to the IOC.

Denver urgently needs investment in things that help ordinary people – NOT an expensive boondoggle that lines the pockets of special interest and leaves behind unneeded mega-arenas.

If our elected officials want to serve our community, they should refocus their attention away from this Olympic boondoggle and shift their focus to the needs of constituents. Bringing the Olympics to Colorado is not a priority for the average Coloradan.

Colorado voters have been clear: We say NO to the Olympics, NO to wasteful spending on the Olympic boondoggle, and NO to another handout for the wealthy and well connected.

**your signature**

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We say "NO" to an Olympic boondoggle in Denver!
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