Reasons to Boycott the Olympics in Russia

#1 Profit and Debt


While the International Olympics Committee (IOC) generates massive profits ($383 million in 2008) from sponsorship deals and the sale of television rights, it leaves the residents of host cities to pay off enormous debts. The IOC host-city agreement stipulates that the Olympics, as a nonprofit organization, pay no taxes to host nations on money made during the Olympics. The salaries of IOC executives are unreported and nobody is certain where Olympic profits go. In the past, board members have been implicated in bribery scandals, taking “gifts” in exchange for their vote on where the Olympics should be held. Montreal took 30 years to pay off the $2 billion debt it acquired by hosting the Olympics, while Vancouver got off easy with a debt of only $1 billion. Meanwhile. Olympic expenditures in Greece contributed €9 billion to its national deficit, putting the entire country in economic strife for the foreseeable future