Milano Cortina 2026: The Billion-Dollar Gamble Skating on Thin Ice

You have to hand it to the Italians. When they decide to throw a party, they don't let little things like logic, budgets, or gravity get in the way. With the 2026 Winter Games looming, the vibe isn't so much "ready, set, go" as it is a frantic scramble to glue the pieces together before the cameras roll.

Remember the pitch? These were going to be the "low-cost" Games. A return to European roots, utilizing existing infrastructure to stop the financial bleeding that defined Sochi and Beijing. Fast forward to today, and that thrifty dream looks about as solid as a slushie in July.

The Sliding Centre of Gravity

Nothing captures the madness quite like the Eugenio Monti sliding track in Cortina. The IOC practically begged Italy to use an existing track in nearby St. Moritz (Switzerland) or Igls (Austria). It made sense. It was sustainable. It was cheap.

But logic didn't account for political pride (and the heavy hand of Deputy PM Matteo Salvini). Why rent a neighbour's house when you can build a €118 million mansion you'll never use again?

"The Games have deviated from the IOC's vision of eco-friendly, low-cost hosting. It's hard to justify the massive public funds spent on building a bobsleigh track." — Beatrice Citerio, Urban Planning Expert.

They started digging in February 2024. February 2024. For a venue that needs to be certified, tested, and safe for humans hurtling down ice tubes at 130 km/h. We aren't just cutting it fine; we are shaving the electrons off the atom. Reports of sabotage (a cooling pipe conveniently disconnected) only add to the soap opera. If they pull this off, it won't be engineering; it will be alchemy.

Budget? What Budget?

Let's look at the numbers, shall we? The official operating budget has crept up to around €1.9 billion. Manageable, right? But that's just the tip of the Dolomites. The real money—the public money—is buried in "infrastructure" and "legacy" projects.

Feature	The Pitch (2019)	The Reality (2026)
Sliding Track	Use existing (abroad) or cheap renovation	€118M+ new build (started 2024)
Total Cost Estimate	~€1.5 Billion	€5.2 Billion+ (inc. infrastructure)
Legacy Focus	Sustainable, minimal build	Cable cars, roads, and arenas rushing to finish

The Santa Giulia ice hockey arena in Milan is another cliffhanger. It's "playable," they say. But will the paint be dry? Will the Wi-Fi work? Or will NHL stars be getting changed in a port-a-loo? The disparity between the shiny renderings and the construction sites is enough to give any project manager palpitations.

The Greenwashing Olympics?

It's hard to swallow the sustainability pill when you are felling trees to build a concrete snake in the mountains for a sport that has fewer participants globally than your local park run. The use of glycol over ammonia for cooling is a nice touch, sure, but it's like ordering a diet coke with your triple cheeseburger.

The climate reality is the elephant in the room (or the mammoth in the ice). Snow reliability is plummeting. We are spending billions to host winter sports in a world that is rapidly running out of winter. Is this the last hurrah for the traditional Winter Games model? It certainly feels like the dinosaurs dancing as the meteor approaches.

When the torch is lit, the chaos will likely be forgotten. Italy does spectacle better than anyone. But once the circus leaves town, the locals will be left with the bill, a giant slide, and a lingering question: was the price of national pride really worth it?