Calgary city council has voted against recommendations to stop work on a 2026 Olympic bid.
Councillor Evan Woolley made recommendations before a committee meeting on Tuesday afternoon saying “the clock has run out.” He suggested it wasn’t fair to ask Calgarians to vote in two weeks without a financial agreement in place.
Late Tuesday night, the Calgary 2026 Bid Corporation (BidCo) released a statement saying the federal and provincial governments had signed an agreement to reconsider an Olympic funding proposal.
The proposal marked the first time the feds have signed an official agreement and the first time the City of Calgary had put forward a number publicly.
BidCo’s new public funding request totalled $2.875 billion.
In the proposal, the City of Calgary would contribute $370 million in cash, $150 million in pre-authorized Victoria Park and Stampede access improvements, and an insurance redemption amount of $200 million to cover a “defined contingency.”
The Alberta government maintained its original offer of $700 million.