Critics of Boston’s former bid to host the 2024 Summer Olympics are patting themselves on the back in light of a new report suggesting that the bid underestimated venue costs by half.
The report, commissioned by Massachusetts state legislators while the bid was still active and published Tuesday by the Brattle Group, claimed that the bid’s projected venue costs were about $970 million short of what they realistically should have been, according to the Los Angeles Times. While the report deemed that the bid’s revenue projections were plausible, it pointed to three separate venues as locations that could probably have led to cost overruns.
“Even though the bid was withdrawn, this report demonstrates that there were a series of real risks associated with bringing the Games to Massachusetts,” state Senate President Stan Rosenberg told the Los Angeles Times.
The U.S. Olympic Committee withdrew Boston’s bid in late July, citing residents’ lack of support and politicians’ resistance to the possibility that Boston would have to sign a host city contract agreeing to back the project with taxpayer dollars. Los Angeles has stepped up as a likely alternative to bid for 2024.