5 Biggest financial disasters in Olympic history

#3 Athens - 2004

Ruined Olympic Site

Greeks seem to have learned nothing from the Montreal Olympics repercussions in 1976 as they moved directly into a pitfall in 2004.

The decision of building the permanent stadiums financed purely by a government infrastructure program proved to be a debacle. There was a miscalculation on part of organizers as to how exactly the required revenue will be generated.

The games were pulled off in a majestic manner but the aftermath was very harmful to the greek economy as it contributed to the economic crises which were visible after the 2008 market crash

The debt problem of Greece was aggravated by the 2004 Olympics hosting. The government of Greece is now looking to sell the land and property of the 2004 Olympics to the private companies in order to compensate for all the long-term losses it had rendered. Several private companies have shown interest to use the 2004 Olympics site.

It is hard to imagine, such wonderful facilities are going to be in the waste.