The International Olympic Committee has committed to contributing $925 million US to the host city of the 2026 Olympic and Paralympic Games.

Calgary is among the cities mulling a bid. Stockholm and Sapporo, Japan are seriously interested. Erzurum, Turkey, Graz, Austria and a joint bid from cities in Italy are also in play.

The IOC published its host city contract Monday detailing measures designed to save a Winter Games host city $500 million and a Summer Games host city $1 billion.

The measures include maximizing use of existing venues and infrastructure, a streamlined games delivery approach, enhanced integration with Paralympic Games and a "clearer allocation of IOC-paid services."

The Calgary Bid Exploration Committee estimated the cost of Calgary hosting the 2026 Winter Games at $4.6 billion with games revenues covering almost half the cost.

That figure, however, is under review. The price tag of the 2010 Winter Games in Vancouver and Whistler, B.C., was about $7.7 billion.

Calgary hosted the 1988 Winter Olympics and the legacy venues provide the foundation for another potential bid.

A Calgary bid corporation, Calgary 2026, was established last month with former national-team skier and real estate entrepreneur Scott Hutcheson as chair and hockey player Hayley Wickenheiser as vice chair.

Host city to be announced next year

The deadline to bid for the 2026 Games is January. The host city will be announced in September 2019.

The host city contract applies to 2026 bidders as well as previously elected hosts for the 2024 Summer Games (Paris) and 2028 Games (Los Angeles), the IOC said in a statement.

A lack of candidate cities for the 2022 Winter Games — Beijing and Almaty, Kazakhstan were the only finalists — prompted the IOC to reform its bidding in an effort to make hosting cheaper and more sustainable.

"This is another significant step in making the Olympic and Paralympic Games a reality for the communities that have the ambition of hosting the world's biggest sporting event," Christophe Dubi, executive director of the IOC Olympic Games, said in the statement.

"We are enabling the organisation of games that will be sustainable and create lasting legacies for their citizens, while also reducing complexity and costs."