Olympics Could Hurt Russia; Dirk for Munich; Commonwealth Games Inspection

Dire Russian Economic Picture

A leading economist in Russia warns that the Olympics and World Cup could lead to the same economic catastrophe Greece is suffering.

Sergei Ulatov, a World Bank economist in Russia was quoted by the Bloomberg news agency, speaking about the dangers of the Russian government’s escalating debt.

He cited large-scale infrastructure projects, such as the 2014 Olympics and 2018 World Cup, as events that could exacerbate Russia’s woes.

"They will have to borrow," he said. "They do have this capacity now, but for how long?"

Ulatov said Russia has until 2030 to right its financial ship.

"Right now, we are mostly helped by oil prices and not by a very prudent macroeconomic policy" Ulatov said.

Some financial experts have claimed that the Greek economic crisis can be blamed on the Olympics due to the massive debt that was accrued to stage the Games.

Nowitzki Predicts "Buzzer-Beater" in Durban

Hot on the heels of an NBA title, Dirk Nowitzki is backing Munich's bid with a week to go until the IOC awards hosting rights to the 2018 Winter Olympics.

‘It is a tight game, but I am optimistic that Munich can secure the win with a buzzer-beater in Durban," the seven-footer from Wurzburg said Tuesday in a statement distributed by the bid.

"The dream of an Olympic Games has motivated me for years. Carrying the German flag into the Olympic Stadium in Beijing in 2008 was such a thrilling moment. I can only imagine the emotions athletes will feel when entering the Munich Olympic Stadium under that iconic roof."

Nowitzki was instrumental in helping Germany earn its first Olympic basketball berth since 1992 at the Beijing Games and is expected to decide in the coming weeks whether he'll join his countrymen as they attempt to qualify for the London Olympics.

His backing comes as Munich leadership touts a new public support poll indicating a record-high 78 percent of Germans now stand behind the Bavarian bid with 15 percent opposed.

Commonwealth Games Commission to Sri Lanka

The Sri Lankan city of Hambantota is under inspection by Commonwealth Games Federation commission evaluating the two bids for the 2018 games.

Last week the evaluation commission visited Gold Coast, Australia.

The Hambantota bid committee hails its venue plan as one of the most compact building proposals in the history of the Commonwealth Games.

"We’ve listened to athletes and put functionality and convenience at the forefront of the planning and design process… They will have both training and competition venues at their doorstep," said Sri Lanka Sports Minister and bid co-chairman Mahindananda Aluthgamage.

The proposed design is unique in that all but three venues are located in one area. The majority of the athletes will travel no more than 1 kilometer to reach their competition or training venues.

All of the venues will be constructed between 2014-2016, except for the Mahinda Rajapaksa International Cricket Stadium, which would host the opening and closing ceremonies.

The Gold Coast, a city located on Australia’s eastern coast, is also bidding for the Games. The winning bid will be announced in Basseterre, Saint Kitts on Nov. 11.

Education Program Pairs Schoolchildren with Olympians

The Foundation for Global Sports Development will run a program that will enable schoolchildren to meet with Olympians and attend the London 2012 Olympics.

LOCOG recognized the London Education and Arts Program or LEAP as part of its Inspire initiative, which acknowledges innovative projects related to the Games.

LEAP consists of lesson plans that encourage teachers and students to write essays or create drawings on Olympic values such as sportsmanship, fair play and team work. Winners take part in a mentorship program during the 2012 London Olympics.

"Our mentorship program has been gaining momentum over successive editions of the Games and we look forward to doing what we can to make the 2012 version a formative experience for the children who are chosen to participate." said Steven Ungerleider, a founding member of GSD’s Board of Directors.

GSD was responsible for exhibiting schoolchildren’s artwork during the 2008Beijing Olympics and the 2010 Winter Olympics in Vancouver as part of its Culture, Education, Sports and Ethics Program.

The program funds anti-doping education and develops sports in partnership with governing bodies. It recently worked with the International Hockey Federation, the International Table Tennis Federation and International Paralympic Committee.

Hot on the heels of an NBA title

Media Watch

Jacqueline Magnay, Olympics editor for London’s The Telegraph, travels to Much Wenlock, the birthplace for the modern Olympic movement.

With the Olympics coming to Brazil in just a few years, the Brazilian Olympic Committee is targeting its first top 10 finish in the medal tally.

Australian beach volleyball player Claire Kelly is raising funds for her Olympic training in an unconventional way. She’s auctioning off space on her body for tattoos.

Written by Ed Hula III.