Olympic Games of 2016, costs per athlete are on average US$599,000 for the Summer Games and $1.3 million for the Winter Games. For London 2012, cost per athlete was $1.4 million; for Sochi 2014, $7.9 million. Where ambitious construction for the 1976 games in Montreal and 1980 games in Moscow had saddled organisers with expenses greatly in excess of revenues, 1984 host Los Angeles strictly controlled expenses by using existing facilities except a swim stadium and a velodrome that were paid for by corporate sponsors. The Olympic Committee led by Peter Ueberroth used some of the profits to endow the LA84 Foundation
Olympic Games city hosting the next Olympic Games. The next host nation then also briefly introduces itself with artistic displays of dance and theatre representative of its culture. As is customary, the last medal presentation of the Games is held as part of the closing ceremony. Typically, the men's marathon medals are presented at the Summer Olympics, while the cross-country skiing mass start medals are awarded at the Winter Olympics. A medal ceremony is held after each Olympic event is concluded. The winner, second and third-place competitors or teams stand on top of a three-tiered rostrum to be awarded their respective medals.