Toronto won't be bidding on the 2020 Summer Olympics. Although a group of what's being described as civic leaders approached the mayor's office last week with preliminary plans for a bid, the idea was shot down on account of cost concerns. "We can't, the feds can't, the province can't, it's just not the time. Everyone would love it but financially no one is in the shape to take it," said Councillor Doug Ford of an attempt to land the Games.

An argument could be made that the presence infrastructure to used in the upcoming Pan Am Games might have put Toronto in a good position for a run at the marquee event, but Deputy Mayor Doug Holyday characterized the bid process as too risky. Oddly, no comment was made from the Ford camp on the financial risks associated with their dream of bringing an NFL team to Toronto.

What do you think? Did the city dodge a bullet here, or is this ultimately disappointing news?