Calgary 2026 Bid Corporation CEO Mary Moran delivers technical elements of its plan for the 2026 Olympic and Paralympic Winter Games to Calgary City Council, in Calgary, Alta., on September 11, 2018. THE CANADIAN PRESS/Jeff McIntosh

Alberta government says it would front $700M for Calgary Olympics

A draft plan for Calgary to potentially host the 2026 Games pegs the cost at $5.2 billion

The Alberta government says it will pick up $700 million of the tab if Calgary were to hold the 2026 Winter Olympics in Calgary.

The province says the money is contingent on a majority of voters supporting the bid in an upcoming plebiscite and increased transparency in the organizing process.

A draft plan for Calgary to potentially host the 2026 Games pegs the cost at $5.2 billion.

It suggests the city, provincial and federal governments should contribute $3 billion of that.

The remainder would be paid by Games revenue.

In a letter to the city, the province says it would not be able to cover any cost overruns or revenue shortfalls.

Calgary is holding a plebiscite Nov. 13 on whether the city should bid for the 2026 Olympics.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Your weekly news recap

The Golden Star’s weekly 60-second news recap… Continue reading

Avalanche control scheduled tomorrow on Highway 1 east of Revelstoke

Avalanche control work is scheduled along Highway 1 on Dec 15. From… Continue reading

Avalanche Canada issues special public warning

Very weak layer buried under recent snow a cause for concern

Rolling with the Rockets: Steven Bigam

Steven Bigam is a rookie player for the Golden Rockets who is… Continue reading

UPDATE: Highway 1 closed east of Revelstoke, set to reopen at 7:30 p.m.

Highway 1 is closed east of Revelstoke near the west entrance to… Continue reading

‘Are we going to play?’ Alberta boy with rare illness no big deal for classmates

Porter Stanley is one of 30 people in the world to be diagnosed with Beare-Stevenson syndrome, a craniofacial disorder.

The prize was wrong: Man turns down trip to Manitoba

A New Hampshire man won the prize on “The Price is Right”, but turned it down because the taxes were too high

Publication ban on name of girl killed in Abbotsford school lifted

Reimer’s family had supported an application by Black Press to lift ban

B.C. securities regulator probes ‘most expansive’ alleged trading scheme in its history

Liht Cannabis Corp states it’s doing internal investigation, welcomes BC Securities Commission probe

Air passenger rights: 6 things about what the Liberals are offering

For 3- to 6-hour delays, compensation is $400. Between 6 and 9 hours, $700. Over 9 hours is $1,000

RCMP, civilian vehicles rammed in North Okanagan incident

Police attempt to stop truck near Enderby, thought to be tied to alleged Salmon Arm armed robbery

New biker gang with ties to Hells Angels crops up in Lower Mainland

The Street Reapers were formed late last year and have been seen in Fort Langley.

10-lane George Massey bridge too big, B.C. study says

Consultants say replacement tunnel cost similar to new bridge

Couple caught up in B.C. Legislature bomb plot to learn their fate

John Nuttall and Amanda Korody were arrested as part of an undercover RCMP sting on Canada Day 2013

Most Read