Prague calling off Olympic bid

It’s not that no one believed Prague could actually hold the Olympics in 2020 from the beginning, but it was clear that absolutely everything would have had to be right for the bid to come off. Instead, just about everything went wrong. Mayor Pavel Bem will blame the economic crisis for his announcement (link in Czech) that Prague was going to downgrade its ambitions to hold the most prestigious event on the planet. It’s true that if Prague had still been a serious candidate, this credit crisis might have scuppered the deal. In fact, the Olympic dream was probably doomed as soon as Bem’s dream of becoming prime minister was shattered by his failure to win the support of fellow party members.

At a Roberts Publishing PLP seminar in Prague two years ago, property experts in the city expressed interest in the idea, but were quick to point out that serious hurdles from a development point of view would make things difficult.

It will be interesting now to see how Budapest fares in its own bid for the same prize.

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