CALGARY – The three levels of government negotiating a funding agreement for the 2026 Winter Olympic and Paralympic Games announced late Tuesday night (Oct. 30) that a deal has been reached.
The announcement came less than 12 hours before City of Calgary council is set to consider a motion to abandon the bid process entirely and scrap a Nov. 13 plebiscite.
“Let’s remember what we will all vote for Nov. 13,” said BidCo CEO Mary Moran in a press release announcing the deal and potentially salvaging the entire process from ending Tuesday morning (Oct. 31).
“It is a chance to rekindle the spirit that brought the Games to Calgary in ’88 and again to Vancouver in 2010. Calgary will see just how much more we can do, how much better we can be.”
The funding agreement sets out a revised capital cost of $2.875 billion in 2018 dollars with the City of Calgary providing $370 million in funding.
Calgary will also help pay $150 million for Victoria Park and Stampede access improvements in conjunction with the province, and provide insurance redemption of $200 million to cover any unexpected costs.
The government of Alberta’s commitment remains at $700 million and the government of Canada will provide $1.423 billion matching the financial commitment for the core event costs by the province, city and Town of Canmore.
The federal government will also provide $30 million in leveraging initiatives identified in the hosting plan.
The cost share agreement was set out in a letter released by the BidCo and endorsed by Premier Rachel Notley and federal Minister of Sport Kirsty Duncan.
“This is a proposal that makes sense and is a good deal for Calgarians,” said BidCo board chair Scott Hutcheson in a press release.
“I’m confident we and our government partners can agree to move forward and reach an agreement in principle. I know City Council understands how important this is to Calgary, that they know what’s at stake here, and that they will show their strong leadership and allow Calgarians to decide the outcome of the Olympic and Paralympic bid at a plebiscite Nov. 13.
“These will be Canada’s Games, Calgary’s choice.”
