Report: Calgary loses $500,000 after pulling out of the Commonwealth Games bid.

 

Pursuant to a study that will be presented to the Calgary City Council, the City of Calgary suffered a loss of $500,000 as a result of the province's decision to withdraw its bid for the 2030 Commonwealth Games. In August, Alberta abandoned the auction. The 2023 Commonwealth Games Bid Corporation received these monies. The auction will be supported by a total of $1 million. According to the study, there will still be another $500,000 in the Fiscal Stability Reserve that needs council approval before it can be used. Based on the research, Calgary is in a good position to support or host sizable multisport events, and it will keep looking at these possibilities in the future.