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Milano-Cortina 2026 Olympics Face Mounting Challenges

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  Published in Business and Finance on Friday, February 20th 2026 at 23:15 GMT by reuters.com
      Locales: ITALY, UNITED STATES

Milano, Italy - February 21st, 2026 - As the clock ticks down to the opening ceremony of the Milano-Cortina 2026 Winter Olympics, a sense of unease hangs over the event. While preparations continue, a stark reality is setting in: the Italian Games are facing significant challenges that are forcing the International Olympic Committee (IOC) to increasingly rely on the success of the Los Angeles 2028 Summer Games to revitalize its struggling business model. The situation in Italy is not merely a logistical hurdle; it's a fundamental test of the Olympic movement's continued relevance and financial viability.

The initial promise of showcasing Italy's stunning alpine regions and winter sports tradition has been overshadowed by a cascade of problems. Spiraling costs, persistent delays in construction and infrastructure projects, and growing local opposition have created a perfect storm of difficulties. The originally projected budget has ballooned past the 11 billion euro mark (approximately $12.1 billion USD), triggering widespread public dissatisfaction and fueling calls for a significant scaling back of the Games' scope. This budgetary overrun isn't just an Italian issue; it represents a broader trend of Olympic Games exceeding their financial promises, eroding public trust, and deterring potential host cities.

Within the IOC, a quiet desperation is reportedly growing. Sources within the organization describe the Milano-Cortina Games as a critical inflection point. One senior IOC official, speaking on condition of anonymity, bluntly stated that the LA28 Games are, in many ways, a "lifeline" for the Olympic movement. The success of the Los Angeles bid isn't just desirable; it's perceived as crucial for demonstrating that the Games can still be delivered sustainably, responsibly, and, importantly, profitably.

The stark contrast between the two Games is becoming increasingly apparent. Los Angeles benefits from a pre-existing wealth of infrastructure - sporting venues, transportation networks, and accommodation facilities - and a robust, established commercial market. This allows organizers to minimize the need for expensive, new construction, a major driver of cost overruns in other Olympic cycles. Milano-Cortina, on the other hand, requires substantial infrastructure investment in a region not fully prepared for the logistical demands of hosting a global event.

Despite the IOC's recent efforts to tighten financial controls and streamline the bidding process, the struggles in Italy demonstrate the difficulty of adapting the Games to a world increasingly skeptical of mega-events. Concerns about environmental impact, social displacement, and the long-term economic benefits (or lack thereof) are becoming more pronounced, leading to increased public resistance and political scrutiny.

IOC President Thomas Bach has consistently lauded the LA28 approach, repeatedly highlighting its focus on leveraging existing assets and minimizing financial risk. LA28 organizers have proactively secured lucrative sponsorship deals, projecting significant revenue that promises a healthy return on investment. This financial stability, coupled with a pragmatic approach to infrastructure, has positioned Los Angeles as a beacon of hope for the IOC.

Another IOC insider explained that LA28 has "shown that a different approach is possible," demonstrating that a successful Olympics doesn't necessitate breaking the bank or alienating local communities. This shift in philosophy - towards prioritizing sustainability and minimizing disruption - is viewed as essential for the future of the Games.

The potential implications of LA28's success extend beyond simply proving the viability of the Olympic model. A positive outcome could pave the way for future bids from cities previously hesitant to take on the financial and logistical burdens associated with hosting the Games. It could also prompt the IOC to fundamentally re-evaluate its selection criteria, placing a greater emphasis on pre-existing infrastructure, realistic financial planning, and robust community engagement.

However, the challenges facing Milano-Cortina cannot be ignored. The Italian Games serve as a potent cautionary tale, underscoring the critical importance of meticulous planning, genuine community involvement, and unwavering financial transparency. The IOC must learn from the mistakes made in Italy to ensure that future Olympic Games are not only spectacular sporting events but also responsible and sustainable endeavors that benefit both the host city and the global Olympic movement.