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
Summer Olympic Games Summer Olympic Games The Summer Olympic Games () or the Games of the Olympiad, first held in 1896, is a quadrennial international multi-sport event. The most recent Olympics were held in Rio de Janeiro, Brazil. The International Olympic Committee (IOC) organises the Games and oversees the host city's preparations. In each Olympic event, gold medals are awarded for first place, silver medals are awarded for second place, and bronze medals are awarded for third place; this tradition began in 1904. The Winter Olympic Games were created due to the success of the Summer Olympics. The Olympics have increased in scope