The International Olympic Committee is set to hold urgent talks over the future of the Winter Olympics following the Sochi Games' exorbitant cost. The 2014 event in Russia cost an estimated $50 billion and IOC members are concerned that candidates will be frightened off applying to host the Games. Earlier this month, Norway withdrew its candidature to host the 2022 Games, while Stockholm, Krakow and Lviv have also pulled out of the running. Gian-Franco Kasper, president of the International Ski Federation (FIS) and an influential member of the IOC, says the entire bidding process and cost of the Games needs to be addressed when the governing body meets in Monaco next month.
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IOC to discuss budgets of future Winter Games
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Gian-Franco Kasper backs changes to current format
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Only two cities competing to host 2022 Olympics
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Pyeongchang to welcome world in 2018
"We'll have an extraordinary @placeholder session in December," Kasper told CNN, referring to the IOC meeting on December 8 and 9.