It’s London’s turn now.

Any hopes that London would be “a back to reality” Games may be exaggerated partly because London has a global reputation it cannot afford to jeopardise, but mainly because the Olympics have become so commercial.

London is “on budget and on time,” according to organisers, but the cost is about three times the original estimate. The economic downturn scuppered its private and public partnership plans for two of the park’s biggest projects, the Olympic Village and media centre, forcing the taxpayer to step in.

Experts say the security budget of 600 million pounds, the same as Vancouver, is hopelessly optimistic given that Britain will be a much bigger target for potential attackers after its support of U.S. military operations in Afghanistan and Iraq.

Other financial risks lie ahead, including a potential shortfall in the estimated sales revenue of the Olympic Village after the Games.

Despite London’s legacy promises, some lawmakers fear a lack of stadium tenants after the Games will result in venues lying empty at a cost of 276 million pounds, and fears are mounting that regeneration will just result in gentrification, with affluent residents moving in and pushing locals out.

Moves to safeguard company trademarks and stamp out ambush marketing, to preserve the monopoly of official advertisers and the International Olympic Committee (IOC) logo, are raising concerns among civil liberty groups.

Pity they don’t have a hockey of their own to cling to in warding off despair. Javelin won’t send them screaming out on the streets, hammered and spanking cop horses for the love of the game. When the financial costs are assuaged in the mind by the emotional high that comes with a national fetish well met, it all seems worthwhile. Synchronized swimming? Right…good luck with that.