62. The Financial Debacle of Greece’s 2004 Olympic Stadium

Year: 2004

Location: Athens, Greece

Company: The Greek Government

Estimated Damage Value: $1.7 billion*

In 2004, Greece aimed for glory, constructing a magnificent Olympic Stadium in Athens for the global games, but Forbes called it an “Olympic shame.” Spending vastly exceeded their means, leading to a whopping $1.7 billion loss, with no financial rescue from the IMF or the IOC.

Today, the once-celebrated Athens Olympic Stadium lies in desolation. Seats are shattered, flora invades the infrastructure, and deterioration is widespread. Politico labeled it as Greece’s decay post-Olympics. A revival seems bleak as financial constraints hinder cleanup efforts, leaving the future uncertain.