The (very big) bucks behind the Olympics

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Even before the athletes could be paid professionals who might make millions bringing home a medal, the Olympics were about money. The first modern Games, held in Athens in 1896, where nearly canceled when funds fell short — Greek businessman George Averoff saved the day by paying to restore the ancient Panathenian Stadium. Officials expected to recoup costs with ticket sales. Didn’t happen. And thus began a grand tradition of overspending to play host to the world for a fortnight.