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Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup by [Andrew Zimbalist]

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Andrew S. Zimbalist

Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup Kindle Edition

by Andrew Zimbalist (Author) Format: Kindle Edition

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An updated and expanded analysis of the economic tensions behind the Olympics and the World Cup games.

Andrew Zimbalist looks beyond the headlines of two of the world’s most beloved sporting events: the Olympics and the World Cup.

In the updated and expanded edition of his bestselling book, Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup, Zimbalist tackles the bogus claim that cities chosen to host these high-profile sporting events experience an economic windfall. In this new edition he takes aim at the outrageous FIFA scandal, Boston’s bid for the 2024 summer Olympics, and the criticism surrounding the 2015 Women's World Cup.

Circus Maximus focuses on major cities, like London and Barcelona, that have previously hosted these sporting events, to provide context for cities like Tokyo and Rio de Janerio, which are currently bearing the weight of exploding expenses, corruption, and protests. Zimbalist offers a sobering and candid look at the Olympics and the World Cup from outside the echo chamber.

Print length

226 pages
Language

English
Publisher

Brookings Institution Press
Publication date

February 2, 2016
File size

3663 KB
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Editorial Reviews

Review

"You'll be hearing a lot in the coming years about the problems cities face when they consider hosting the Olympic Games and the World Cup. This international issue is thoroughly explored by Andrew Zimbalist in his important new book, Circus Maximus. Zimbalist is the perfect person to delve into this timely topic, located at the intersection of sports and economics."—Christine Brennan, USA Today national sports columnist, ABC News and CNN commentator

"Andrew Zimbalist is a perpetual source of insight on the economics and administration of modern sports. When weighing the very real risks and rewards of hosting major international events, political leaders and informed citizens should carefully consider the information and arguments presented here before rolling the dice."—Bob Costas, Broadcaster, NBC Sports and Major League Baseball Network

"It's time for cities to stop the mega-sports madness. Andrew Zimbalist shows why hosting the Olympics and the World Cup is almost always a boondoggle. Great stuff!"—Richard Florida, Director of the University of Toronto's Martin Prosperity Institute and author of The Rise of the Creative Class

"Andrew Zimbalist documents how the officials who run the international sports organizations that authorize these events profit handsomely, while host cities and nations experience ever-increasing losses, and why before-the-fact claims that such events will deliver long-term economic benefits typically are wildly inaccurate."—Roger Noll, Professor of Economics, Stanford University

"Pssst. Wanna buy a velodrome cheap? Andrew Zimbalist's penetrating examination of how the International Olympic Committee and FIFA have sweet-talked cities and nations into hosting their extravaganzas is absolutely devastating in its ugly detail."—Frank Deford, Author and Commentator

"Circus Maximus shines a bright light on the much-needed discussion about the unconscionable expense surrounding both the bidding process and hosting of the Olympics and the World Cup. The perfectly titled book will leave you gasping for reform. Immediately."—Julie Foudy, ESPN analyst, former U.S. national soccer team captain-winner of two World Cups and three Olympic medals

"Indispensable for anyone who wants to understand the impact of hosting the Olympics."— Evan Horowitz, Boston Globe

--This text refers to the hardcover edition.

About the Author

Andrew Zimbalist is the Robert A. Woods Professor of Economics at Smith College. He is the author of three Brookings Institition Press titles: Sports, Jobs, and Taxes: The Economic Impact of Sports Teams and Stadiums (1997); May The Best Team Win: Baseball Economics and Public Policy (2003); and National Pastime: How Americans Play Baseball and the Rest of the World Plays Soccer (2005). --This text refers to the hardcover edition.

Product details

ASIN ‏ : ‎ B01B11TREQ
Publisher ‏ : ‎ Brookings Institution Press; Second edition (February 2, 2016)
Publication date ‏ : ‎ February 2, 2016
Language ‏ : ‎ English
File size ‏ : ‎ 3663 KB
Text-to-Speech ‏ : ‎ Enabled
Screen Reader ‏ : ‎ Supported
Enhanced typesetting ‏ : ‎ Enabled
X-Ray ‏ : ‎ Not Enabled
Word Wise ‏ : ‎ Enabled
Print length ‏ : ‎ 226 pages
Page numbers source ISBN ‏ : ‎ 0815727240
Lending ‏ : ‎ Not Enabled

Best Sellers Rank: #898,428 in Kindle Store (See Top 100 in Kindle Store)
- #137 in Public Finance (Kindle Store)
- #137 in Olympics & Paralympics (Kindle Store)
- #287 in International Economics (Kindle Store)

Customer Reviews:
47 ratings

Customer reviews

5 star		58%
4 star		29%
3 star		8%
2 star		4%
1 star 0% (0%)		0%

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Top reviews from the United States

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RVO

Fantastic book about the troubling economics of the Olympic Games

Reviewed in the United States on March 2, 2015

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This is an extremely well written book that relentlessly and completely gives the lie to the oft-spoken idea that large sporting events like the Olympics and World Cup are economic gold mines for host cities or countries. Simply put, they aren't. But it's worse than that. Andrew Zimbalist uses facts, pertinent economic explanations, humor and irony to explain how host cities are nearly all left with economic disasters after the Olympics and World Cup leave town, taking most of the financial gain with them. The book showcases the sometimes insane euphoria, and big cash, that goes into bidding for world class sporting events with promises of increased tourism during the games that extends after the games, increased cache and economic preimenance that go along with hosting such events.

Zimbalist does a fantastic job of explaining that the Olympic Games don't even bring more tourists to a city while they are happening, let alone for years afterward. London actually had fewer tourists in the Summer of 2012. As for the supposed cache attached to host cities, this book explains it can all go bad if there is a terrorist attack, protests, or, as in Brazil, deaths associated with the construction of venues.

And the book showcases how the 'legacy' of hosting these events can often turn into a public relations nightmare when, like Athens and Beijing there are rotting stadiums that scar the landscape, or, like Sochi, you leave an impression of an infrastructure mess.

And for those cities who eagerly jump at the chance for a bid, they often cite the 1984 Olympic Games in LA (which turned a modest profit) and the 1992 Barcelona Games, (which excellerated that city's rise as a city of consequence), Zimbalist clearly why those two cities are singular events, not easily reproduced.

I love the Olympics. This book tells another side of the story beyond the athletic drama of the games. After reading this book, I hope my city never even bids for an Olympics.

7 people found this helpful

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Leonardo

A real eye opener

Reviewed in the United States on April 16, 2015

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Through the use of extensive facts and data Zimbalist makes the case that the Olympic committees and promoters are only concerned with their own profit and power. Everyone in Massachusetts who will vote on soliciting the forthcoming Olympic bid should read this book. If history is a guide it will be your tax dollars making up the cost overruns despite the promises that not a single tax dollar will be used.

I feel sorry for the people of Brazil. The book details the heavy price they paid for hosting the 2014 World Cup games. Now they are on the path for another costly venture with the upcoming Olympics. Journalists are reporting problems unfolding just as Zimbalist cited in this book.

One person found this helpful

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DTL

Thanks but no thanks

Reviewed in the United States on May 2, 2017

Verified Purchase

This is a very interesting book. It concerns the gamble that's taken by governments with the World Cup and the Olympic Games. It took Montreal thirty years before it paid off its debt from the Olympics. They aren't an investment but should rather be seen more as an expenditure for public approval. After all everybody loves a party until the bill arrives.

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S.Prater

Very interesting.

Reviewed in the United States on June 29, 2016

Verified Purchase

This book gave me great insight into the Olympic games as well as other large sporting events. The amount of planning and spending that occurs is really eye opening. This book sheds a lot of light on the problems with the Olympics and the amount of money countries waste with little to show afterwards. Very interesting.

Helpful

Nick Ieronimo

Good story poorly written

Reviewed in the United States on August 8, 2016

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I found the book to be interesting but poorly written. It was overly repetitive, it was poorly edited with many similar points being made over and over again. It also didn't flow properly, without a logical flow to the points being made. Frankly it looked like an interesting article that has been padded out to become book size. Lastly the author points to all the problems faced by the IOC and FIFA but offers no solution to how to fix them.

Helpful

tax_guy

Informative Read on Fiscal Impact of Sporting Events

Reviewed in the United States on March 13, 2017

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This book is fantastic. If you've ever been skeptical of the various claims made by Olympic advocates (e.g., it'll help the local economy, etc), then this book is for you. Zimbalist also looks at the World Cup's impact -- or lack thereof -- on host cities.

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Patrick K

Great Book Interesting Topic

Reviewed in the United States on April 13, 2015

Verified Purchase

We always hear that hosting a world wide sporting event will be great for our local economy etc. not so fast. Zimbalist does a great job dispelling those myths. Great Book, easy to understand and drives the point home with details, facts and figures

One person found this helpful

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Dog Mom

Really eye opening about the financing of these games.

Reviewed in the United States on September 11, 2016

Verified Purchase

Really eye opening about the financing of these games.

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Top reviews from other countries

Lizzie

Five Stars

Reviewed in the United Kingdom on January 25, 2017

Verified Purchase

Arrived promptly and exactly as expected. Thank you

Amazon Customer

A 180° change of mind

Reviewed in the United Kingdom on May 6, 2016

Verified Purchase

The information presented on this book clearly made me think about the reality of these events. I recommend this book to help expand your mind. And the next time you see an Olympic games or world cup you will never see them the same way

Five Stars

Reviewed in the United Kingdom on August 2, 2015

Verified Purchase

Good price and quick delivery.

A most interesting read...

Reviewed in Canada on October 15, 2018

Verified Purchase

This is an interesting book in its own right, but particularly for citizens of cities contemplating hosting an Olympics or World Cup.

I happen to live in Calgary, Canada, currently contemplating a bid to host the 2026 Winter Olympics, 38 years after hosting the 1988 games. Even though the bid contemplates re-furbishing and re-using most of the '88 facilities, the costs remain enormous, and would most likely be shouldered by Calgary taxpayers. We rescheduled to vote in a public referendum on the matter in mid-November.

I lived here in '88 too, and I think most Calgarians view the '88 Games as a success and a a real benefit to the city. What this book does is strip away the hype and put the real costs and supposed benefits on the table, a very useful exercise, allowing at the very least for informed decision making.

One person found this helpful

daniel Froese

A great read

Reviewed in Canada on February 18, 2017

Verified Purchase

A very interesting and eye opening read. I would recommend this book to those interested in sport and economics. A well written book.

One person found this helpful