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Author Andrew Zimbalist looks beyond the headlines of two of the world’s most beloved sporting events: the Olympics and the World Cup.
In the expanded and updated edition of his bestselling book, Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup, Zimbalist tackles the bogus claim that the cities chosen to host these high-profile sporting events experience an economic windfall. He now 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 look at the Olympics and the World Cup outside of the echo chamber.
- Sales Rank: #152492 in Books
- Published on: 2016-02-02
- Original language: English
- Number of items: 1
- Dimensions: 9.02" h x .51" w x 5.98" l, .0 pounds
- Binding: Paperback
- 224 pages
Review
Even appropriately jaded readers are likely to be shocked by the evidence ...which reveals the magnitude of the deception that precedes these events and the disappointment that follows.”—The Economist
A remarkable study that exposes the extraordinary chicanery and dodgy dealing behind staging the Olympics and the World Cup
—The Guardian
Anyone in our broad metropolitan region who worries about the development binge that treats our unique area as a mega-mall for paving over, or who worries about the corrupting influence that commercialization has brought to all amateur sports should read this book.
—The Washington Times
A slim yet persuasive book that seeks to set out the "economic gamble behind hosting the Olympics and the World Cup." And it succeeds; indeed, it succeeds to such an extent that the reader can't help but wonder why on earth any vaguely sensible city or country would want to play any part in such an expensive business.
—SB Nation
“Circus Maximus’’ ought to be required reading for the city and state officials anxious to bring the Olympics to Boston.
—The Boston Globe
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
Sport analytics freaks and millennial's unite! Not to mention lovers of the Olympics and the World Cup. This is a book you will want to read in one sitting. And, speaking of relevance, you can learn major ideas from principles of micro and macroeconomics by reading this book. Anyone who wants to teach these subjects can use "Circus Maximus" alongside any textbook there by teaching very hot applications and making the experience more fun!
—Deborah A. Freund, PhD, Paul O'Neill-Alcoa Chair in Policy Analysis Senior Principal Researcher
About the Author
Andrew Zimbalist earned a B.A. from the University of Wisconsin at Madison and an M.A. and Ph.D. from Harvard University. He has been in the economics department at Smith College since 1974 and has been a visiting professor at Doshisha University, the University of Geneva, and Hamburg University. Zimbalist has consulted in Latin America for the United Nations Development Program, the U.S. Agency for International Development, and numerous companies. He has consulted in the sports industry for players' associations, cities, companies, teams, and leagues, and has published twenty-five books.
Most helpful customer reviews
6 of 6 people found the following review helpful.
Fantastic book about the troubling economics of the Olympic Games
By RVO
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.
3 of 3 people found the following review helpful.
Required Reading For Those Who Want to Understand the Impact of Sporting Mega-Event on Host Communities
By Christopher Dempsey
Professor Zimbalist has written a concise, straightforward analysis and commentary on the tradeoffs of bidding for and hosting sporting mega-events such as the Olympics and the FIFA World Cup. The book addresses examples from Barcelona (which seems to have benefited from the Games) to Sochi (an ego-driven waste of resources) to London, where the benefits of the Games have not met boosters' claims.
With a mix of interesting anecdotes, references to the work of fellow academics, and independent research, Zimbalist has made an accessible, informative, and important contribution to the public debate.
Questioning the wisdom of your city pursuing an Olympic bid, or your nation bidding on the World Cup? Wondering how the IOC or FIFA decide on a host? This book is a must read.
4 of 5 people found the following review helpful.
Exposes Major Sports Extravanganza Boondoggles
By Loyd Eskildson
The modern Olympic Games began in Athens in 1896, and bear little resemblance to either the ancient Greek games two millennia ago or today's games (women were excluded, amateurism was required, and expenditures/preparations were far less extensive).
China spent $40 billion hosting the 2008 Summer Olympic Games in Beijing, Russia spent $50 billion for the 2014 Sochi Winter Games, London 2012 spent close $20 billion (brought in $5.2 billion in revenues), Brazil spent about $20 billion for the 2014 World Cup (much of it never finished; the expenditures provoked riots in protest) and another $20 billion on the 2016 Olympics, and Qatar is estimating it will spend $200 billion to host the 2022 World Cup. Lingering allegations of corruption also tarnish the 2018 Russia and 2022 Qatar World Cups; hotel gift bags in Brazil for the 2014 World Cup included luxury watches worth $25,000 (later returned after exposed). These major sporting events are marketed to cities and taxpayers as major economic boons, and competition is fierce to host them. But are they worth it? That is the question author Zimbalist seeks to answer.
The average cost overrun for staging the Olympics has been 200% since 1976. London's organizers initially said the Games would cost $4 billion - the final bill came out to $15 - 20 billion. Bids by cities are driven by construction companies and unions, insurance and architecture companies, hotels, local media, investment bankers, public relations groups, and lawyers working for those groups.
Potential bidding cities are told that the Olympics will boost tourism. Atlanta, however, saw no statistically significant change in retail sales, hotel occupancy, or airport traffic during the 1996 Olympics. Beijing and London experienced a decrease in international tourism during their host month and year. As for long-term effect - the European Tour Operators Association contends that hosting the Olympics does not boost, and may even reduce, future tourism. That is because the best way to promote tourism is word-of-mouth when travelers return home - Olympic tourists, however, return home and talk of watching various competition. To the extent that Olympic tourists replace traditional tourists, the positive advertising effect is diminished.
THE IOC has appropriated an ever-increasing share of proceeds for itself - now over 70% of Olympic television revenue, compared with less than 4% between 1960 and 1980.
Costly stadiums produce minimal long-term economic benefits - that is why they're usually built by taxpayers rather than corporations. After the 17-day Olympic party is over, experience has shown that host cities can expect facilities to be underutilized, cost millions/year to maintain, and occupy 5 - 30 acres each of valuable urban real estate. They become white elephants. In Athens, a volleyball stadium is now inhabited by squatters and a softball park overgrown with trees; Beijing has a week-infested cycling racetrack, Brazil a soccer stadium with 40,000 seats is now used by a team drawing about 1,500 fans each game, Calgary now has a ski-jump directly in front of a since-erected McDonald's, and tourists can ride Segways around Beijing's Bird's Nest..
The number of bidders for the Winter Olympics has fallen from nine in 1995 for the 2002 Games in SLC to two in 2014 for the 2022 Games. The Summer Olympics has decreased from 12 in 1997 for the 2004 Games in Athens to three in 2013 for the 2020 Games in Tokyo.
Mexico City (violence and political protest), Munich (eleven Israeli athletes killed by terrorists), and Montreal (its 1976 games cost 9.2X what had been budged and the debt took 30 years to pay off) were commercially unsuccessful Olympics. Thus, Los Angeles 1984 was the only bidder and officials told the IOC it would only host if the IOC guaranteed against losses. L.A. used existing sports infrastructure from the 1932 Olympics plus a few smaller, privately-funded venues, and Peter Ueberroth, head of the organizing committee also introduced a corporate sponsorship model to help cover operating expenses. L.A. 1984 became an exception, profiting $215 million.
Barcelona 1992 was another exception. That city had developed a renovation plan prior to hosting the Olympics, and the Olympics were fit into the plan, contrary to the typical sequence.
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