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 ceremony Committee makes a speech. The IOC President then makes a speech before closing the Olympics by saying:"And now, in accordance with tradition, I declare the Games of the [ordinal number of Summer Olympics] Olympiad/[ordinal number of Winter Olympics] Olympic Winter Games closed; and call upon the youth of the world to assemble four years from now in [name of next host city] to celebrate the Games of the [subsequent ordinal number of Summer Olympics] Olympiad/[subsequent ordinal number of Winter Olympics] Olympic Winter Games". Finally, the Olympic flame is extinguished, marking the end of the Games. Olympic Games ceremony Olympic Games