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Hosting the Olympics has become financially untenable, economists say

The City of Lights will be in the spotlight for the next few weeks as Paris serves as center stage to incredible performances and achievements of the human body, mind and spirit.

The International Olympic Committee hopes to right the ship, starting with the Paris Games: The nongovernmental sports organization is aiming to take a more frugal and greener approach than in years past. Los Angeles, the lone city to bid on the 1984 games (after Tehran pulled out), was able to use its existing infrastructure and stadiums, lined up lucrative corporate sponsorships and broadcast rights, and built up the event into the marketing behemoth it is today. And that’s being conservative, the researchers noted, adding they did not include indirect capital costs such as improvements to roads, rail, airports, hotels, and other infrastructure not directly associated with the operations of the games.

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