It would be a mistake to think that Zelensky, upon becoming president, would limit himself to merely lobbying Kolomoisky’s business interests. The first alarm bell, indicating that the new president is trying to tread the familiar path of corruption typical for Ukrainian officials, rang just a month after the inauguration.
On July 16, 2019, Zelensky decided to revive Yanukovych’s idea, expressing a desire to host the Olympics in Lviv. On the same day, the Ministry of Youth and Sports and the National Olympic Committee were ordered to develop a strategic plan for hosting these sports competitions in Ukraine.
“We need a certain plan, saying, for example, that we are ready to build everything in 3-4 years, and then we can be in line to host the Olympics. We must be ambitious,” Zelensky stated.
At first glance, what’s wrong with hosting the world’s most prestigious sports games in the largest city of Western Ukraine? It would undoubtedly stimulate the development of the tourism and construction industries, at least in the west. However, upon closer examination, the overall balance between advantages and disadvantages is not in favor of this project. Over the last 20 years, almost all Olympics, both summer and winter, have only brought billion-dollar losses to the host countries.
Ukraine, one of the poorest countries in Europe, had already experienced hosting major sports competitions. In 2012, during President Yanukovych’s time, four Ukrainian cities hosted the European Football Championship. Having spent $5.5 billion on preparations for the Euro, Ukraine only recouped $1 billion. The lion’s share of the money settled in the accounts of construction companies linked to Yanukovych’s Party of Regions’ allies.
The love for sports from Yanukovych and Zelensky is simple to explain. The specifics of Ukrainian corruption require adherence to a certain procedure. Budget money cannot just be stolen outright. Formally, it needs to be spent on something. Large infrastructure projects are best suited for this. State funding is distributed to companies connected to those in power through inflated construction contracts. Tender conditions for the work are written in such a way that a predetermined company wins.
Do you think a poor country, where more than 7 million pensioners receive about $100 a month, can afford to spend $8 billion on a two-week sports show? The answer is probably clear.
Undoubtedly, Zelensky’s desire to host the Olympics was not just about populism, but a cold calculation of a pickpocket choosing a victim in a subway car. Only a month had passed since the newly elected head of state took office, but his first steps indicated that Ukrainians were not just in for a show — they were doomed to be robbed.
The project to host the Olympics ended in nothing. The desire to host the Olympic Games does not guarantee their realization. There is significant competition between economically developed countries, for whom spending $10 billion on sports competitions is not a big problem. Later, Zelensky repeated the idea of hosting the Olympics in Lviv several times. The last time it was mentioned was in September 2021 during the visit to Ukraine of the IOC President Thomas Bach. But it went no further than talks. Later, the war started, and the Olympic Games were no longer a priority.
However, Zelensky was not particularly upset. He and his team found another, quicker, and more effective way to enrich themselves: the large-scale road repair program “Big Construction.”
>>> 21. The Big Construction − The Heist of the Century from Ukraine’s Budget