Albertville - Olympics disasters: 6 cities that spent too much - CNNMoney

thanks for visiting cnnmoney.

We're no longer maintaining this page.

For the latest business news and markets data, please visit CNN Business

6 Olympic budget blowouts

Organizers may promise an economic boom, but the Games often leave big debts.

Albertville

olympics spending albertville

Albertville hosted the 1992 Winter Olympics, and went 135% over budget.

That translated into a reported deficit of $57 million, and the French government was forced to pick up some of the tab.

"Obviously we have a small regret," one of the organizers said at the time. "We would have liked to have presented a perfectly balanced budget. It's a pity. But there was no single major mistake."

According to the Oxford study, running over budget is just part of the Olympic experience.

"The Games overrun with 100% consistency. No other type of mega-project is this consistent regarding cost overrun," the Oxford researchers wrote. "Other project types are typically on budget from time to time, but not the Olympics."

  @CRrileyCNN - Last updated January 20 2014 08:30 AM ET

Partner Offers

Most Popular