Toronto Will Not Bid for 2020 Olympic Games

Cash-strapped Canadian city Toronto has confirmed that it will not be submitting a bid to host the 2020 Olympic Games.

The Canadian Olympic Committee announced the news. Toronto Mayor Rob Ford rejected the idea as Councillor Doug Ford, his brother, explained to the press that the city cannot afford to host the event as it attempts to overcome a US$786 million budget shortfall.

The administration of Toronto Mayor Rob Ford already has rejected the idea of going after the world’s biggest sporting event. Councillor Doug Ford, the mayor’s brother, said the city can’t afford it while it works to beat down a $774 million budget shortfall. He added that a bid would have sent the wrong message to taxpayers in a period of budget cuts.

He said: “We can’t, the feds can’t, the province can’t. It’s just not the time. Everyone would love it but financially no one is in the shape to take it.

“I just don’t think the money is there in all three levels of government. I don’t even know what country is in the shape right now to take it.”

This would have been Toronto’s third attempt to host the games. In the last two instances, the city lost to Atlanta in 1996 and Beijing in 2008.