The world’s economic downturn is playing party pooper to Vancouver’s Olympic celebrations.

The city is expected to trim its “live site” budget by $5 million because of a possible drop in sponsorship revenues.

The city’s live sites, at David Lam Park in Yaletown and a “piazza” at the former bus depot at Beatty and Georgia streets, offer a free, family environment for people to celebrate during the Olympic Games.

Live Nation Canada, the largest producer of concerts in the world, will produce the sites in partnership with Five Curr­ents, which will design, build and manage them.

Originally budgeted at $23 million, the budget will be reduced to $18 million if the proposed cut passes a vote by council.

If passed, the city will pay $5 million and the federal government $10 million. The remaining $3 million will come from sponsorship as well as merchandise and food and beverage commissions.