Stephen Pagliuca, better known around Boston as co-owner and managing partner of the Celtics, wrote an article posted on BankerandTradesman.com outlining his financial argument for the city hosting the summer games. He sought to dispel logistical and economic concerns raised by opponents of Boston’s bid.
Pagliuca wrote that TV revenues have outgrown costs in recent years and that some host sites, such as Salt Lake City, ended with a charitable surplus — despite much of the infrastructure built for the 2002 Olympics now being shuttered.
To join the Boston 2024 governing board, Pagliuca added, members must make a non-negotiable pledge that “tax dollars will not be used to build venues or pay for the operation of the Games.”
Boston is one of four U.S. cities considering bidding for the 2024 games, along with Los Angeles, San Francisco and Washington, D.C. So far, Rome/Vatican City is the only site that has formally applied.
Thumbnail photo via Twitter/@Boston2024
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