In order to host the Olympic Games, a city must file a proposal to the Inter

In order to host the Olympic Games, a city must file a proposal to the International Olympic Committee. After all proposals have been(36)submitted, the IOC votes. If one city is successful in gaining a majority in the first vote, the city with the fewest votes is(37)eliminated, and voting continues with(38)successive rounds, until a majority winner is determined. Typically the Games are awarded several years in advance, (39)allowing the winning city time to prepare for the Games. In selecting the site of the Olympic Games, the IOC considers a number of factors, chief among them is which city has, or promises to build, the best(40)facilities, and which organizing committee seems most likely to stage the Games(41)effectively.
    Because of the growing importance of television worldwide, the IOC in recent years has also taken into(42)account the host city’s time zone. Whenever the Games(43)take place in the United States or Canada, for example, (44)American television networks are willing to pay significantly higher amounts for television rights because they can broadcast popular events live, in prime viewing hours.
    Once the Games are awarded, it is the responsibility of the local organizing committee to finance them. This is often done with a portion of the Olympic television revenues and with corporate sponsorships, ticket sales, and other smaller revenue sources. In many cases there is also direct government support.
    Although(46)many cities have achieved a financial profit by hosting the Games, the Olympics can be financially risky. When the revenues from the Games were less than expected, the city was left with large debts.