I'll watch the events. But I really dislike the politics of the IOC. Here is an example of why.
The contract is an epic masterpiece of micro-management. Its supporting materials, a set of 33 “Technical Manuals,” take up more than four feet of bookshelf space.
To comply with its terms, London must designate 250 miles of dedicated traffic lanes for the exclusive use of athletes and “the Olympic Family,” including I.O.C. members, honorary members, and “such other persons as may be designated by the IOC.” (These traffic lanes are sometimes called “Zil lanes,” alluding to the Soviet-era express lanes in Moscow reserved for the politburo’s favorite limousines.) Members of the Olympic Family must also have at their disposal at least 500 air-conditioned limousines with chauffeurs wearing uniforms and caps. London must set aside, and pay for, 40,000 hotel rooms, including 1,800 four- and five-star rooms for the I.O.C. and its associates, for the entire period of the Games. London must cede to the I.O.C. the rights to all intellectual property relating to the Games, including the international trademark on the phrase “London 2012.” Although mail service and the issuance of currency are among any nation’s sovereign rights, the contract requires the British government to obtain the I.O.C.’s “prior written approval” for virtually any symbolic commemoration of the Games, including Olympic-themed postage stamps, coins, and banknotes.
So. The IOC pays nothing, Has zero on the line. And acts like the tyrant kings of middle ages Europe. ALL at the expense of the taxpayer. There has not been one bit of profit for the tax paying citizens of a host city in over 30 years.