Anyone who signs up for a marathon soon hears about the metaphorical wall that exhausted runners often hit around three-quarters of the way through the race. Australia’s state of Victoria has just crashed into the financial equivalent, much earlier, in its preparations for hosting the 2026 Commonwealth Games. On Tuesday, Premier Daniel Andrews revealed the country’s second-largest state by population is pulling out barely a year after getting the nod to hold the quadrennial event, saying costs could almost triple from the initial A$2.6 billion ($1.8 billion) estimate.
Commonwealth Games - Athletics - Men's Pole Vault - Final - Alexander Stadium, Birmingham, Britain - August 6, 2022 Australia's Kurtis Marschall reacts during the final REUTERS/John Sibley
MELBOURNE, July 18 - Anyone who signs up for a marathon soon hears about the metaphorical wall that exhausted runners often hit around three-quarters of the way through the race. Australia’s state of Victoria has just crashed into the financial equivalent, much earlier, in its preparations for hosting the 2026 Commonwealth Games.
barely a year after getting the nod to hold the quadrennial event, saying costs could almost triple from the initial A$2.6 billion estimate.the economic gains proponents first tout. Rio de Janeiro lost $2 billion hosting the 2016 Olympic Games, for instance. The benefit to Victoria was pegged at some A$3 billion, barely more than the base case outlay, which on past examples was probably optimistic.
Andrews’ government, though, also wanted the Games to be hosted in several different cities – and added more sports, per the Commonwealth Games organising body. That pushed up costs. It’s a reminder only to run the race you trained for.
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