The 1970s marked a turning point, writes Andrew Zimbalist, author of Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup . The games were growing rapidly, with the number of Summer Olympics participants almost doubling and the number of events increasing by a third during the 1960s. A 2012 University of Oxford study estimated an average cost overrun of 252 percent for each Summer Olympics since 1976, after adjusting for inflation. The killing of protesters in the days before the 1968 Mexico City Games and the fatal assault on Israeli athletes at the 1972 Munich Games tarnished the image of the Olympics, and public skepticism of taking on debt to host the games grew. In 1972, Denver became the first and only chosen host city to reject its Olympics after voters passed a referendum refusing additional public spending for the games. Also problematic are so-called white elephants, or expensive facilities that, because of their size or specialized nature, have limited post-Olympics use. These often impose costs for years to come.
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