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If the Olympic Stadium gets paid off, any debt is payable!

in Chutzpah, Debt Reduction, Debts

Written in 2006, so that means it took over 30 years to pay off the Montreal Olympic Stadium. I am sure it is still accruing costs, but I never thought it would be standing when it finally got paid off.

The Olympic Stadium in Montreal is finally paid for! Unbelievable, is all I can say. I grew up in Montreal during the building of the “Cement Stadium”, and I remember it’s initial price tag of $185M and it ballooning to a final price tag of $2B which evidently has been paid off using a tax on cigarettes in Quebec. That shows that:

  • Quebecers smoke a hell of a lot of cigarettes to get taxed enough to pay off this huge debt.
  • That is a really STEEP tax, which they are not getting rid of, they are keeping it to pay for upkeep of the stadium and for other debts the Quebec Government has (like the number of cancer patients from smoking?)

The Olympic Stadium is Not like My Debt?

Folks, if this debt can be paid off (in 30 years), then ANY debt is payable. I remember as a kid thinking I wouldn’t see the Olympic Stadium paid for before it was demolished, or it fell down, but it is now paid off, holy cow!

The Big Owe
The Big Owe (aka Montreal Olympic Stadium)

{ 2 comments }

  • Matt December 20, 2006, 12:23 PM

    2 billion, wow and I thought the skydome cost a lot!

    Reply

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