Worried about the dwindling number of Ontario residents representing Canada on the international scene the McGuinty government introduced the Quest for Gold Funding Program in 2006. Under the Quest for Gold Program the Ontario Government has provided over $42 in direct financial assistance over the past five years to its amateur athletes. Furthermore, in 2010 the Ontario Government was awarded the 2015 Pan-Am Games and with it committed a further $1.4Billion dollars towards amateur sport facilities over the next five years. Unfortunately it appears that the sporting bubble may be bursting.
Reports are that the Ontario government is facing a $16Billion Dollar deficit in 2012 and with Moody's threading to downgrade Ontario's bonds, the province is under immense pressure to cut its deficit, and rest assured sport will be one of the first programs on the chopping block. Secondly a report from the Toronto Sun shows that the 2015 Pan-Am Games Bid is facing cost overruns in excess of $2.0Billion dollars. Reports are that the cost overruns has some wondering if the government should not consider scaling back some facilities and doubling up on others (I.E have Gymnastics and wrestling in the same facility). If reports are in fact true, the legacy from the 2015 Pan-am Games may not be as great as some were hoping.
With cost overruns and a provincial government looking for ways to slash its budget Ontario's sporting industry could be facing serious cutbacks here shortly. Until these two things happen however, Ontario's amateur athletes should acknowledge the efforts of its government to showcase amateur sport in Canada's most populous province.
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