January 22, 2014
Toronto ends any prospect of bidding for 2024 Olympics and Paralympics
By Zjan Shirinian
January 20 - The prospect of Toronto bidding to host the 2024 Summer Olympics and Paralympics is dead in the water, with the city's Mayor saying it "isn't ready" to host the Games.
Toronto's Economic Development Committee has voted unanimously to defer a bid for the 2024 Games.
The cost of hosting the Games was estimated at as much as $6.9 billion (£3.8 billion/€4.6 billion) by accounting firm Ernst and Young.
The firm said submitting a formal bid for the Games would cost as much as $60 million.
Toronto's Mayor Rob Ford said it could be "15 years at least" before the City would realistically consider hosting an Olympics.
His deputy Norm Kelly said: "Now is not the right time. We must continue to focus our energy and attention on preparing to host the Toronto 2015 Pan Am/Para Pan Am Games.
"Only after the 2015 Pan Am Games can we further explore the feasibility of hosting either the Olympics or the World Expo in the future."
The Canadian city will host the Pan American Games in July and August 2015.
The bidding process for the 2024 Olympics and Paralympics will begin next year, with the winner announced in 2017.
Toronto has twice bid for the Summer Olympics, coming third behind Atlanta and Athens in 1996, and second to Beijing in 2008.
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