If the 2011 Canada Games go over budget, Halifax will be stuck with the bill. But organizers are optimistic that won’t happen.
Currently, organizers are projecting a balanced budget — $46 million in revenue and $46 million in expenses. But that relies on $8 million in sponsorship and a further $1 million in ticket sales.
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There is only $650,000 in sponsorship money committed so far. But organizers say everything is on track for a balanced budget.
Mayor Peter Kelly said the city will be watching the budget closely.
“The indications right now are that things are going to plan,” said Kelly.
“We are mindful that these are a bit more challenging times ... but we’re optimistic that we’ll achieve those goals.”
Sporting events are notoriously prone to going over budget. Both the Vancouver 2010 and London 2012 Olympics are coping with massive cost overruns. Organizers say there hasn’t been a Canada Games deficit in recent memory.
HRM has kicked in about $9 million so far. The provincial and federal governments also fund the Games.