The Government of Alberta pledged CAD$700 million (£408 million/$537 million/€464 million) in funding should Calgary host the 2026 Winter Olympics and Paralympics.

They had vowed to announce their financial support 30 days prior to a crucial plebiscite in Calgary on November 13.

Government of Alberta Finance Minister Joe Ceci wrote to Calgary Mayor Naheed Nenshi and Kirsty Duncan, Federal Minister of Science and Sport, to confirm the extent of their funding support.

“I am pleased to formally inform you the Government of Alberta is prepared to commit a maximum of CAD$700 million (£408 million/$537 million/€464 million) million to support Calgary hosting the Games,” Ceci wrote.

“As you know, the Government of Alberta will not be able to provide any additional funds that may be required, including those to cover revenue shortfalls or cost over-runs.

“Moreover, we will not be providing any form of guarantee for additional costs arising from any source.”

The outcome means that the Federal Government or the city would need to fund the remaining CAD$2.3 billion (£1.3 billion/$1.7 billion/€1.5 billion).

Ceci also stated that the funding pledge came with conditions, including a positive result from the November 13 plebiscite.

While the result is considered non-binding, should the public vote against the bid, the subsequent loss of the Government of Alberta’s financial support would surely act as the death knell for Calgary 2026’s efforts.

Calgary 2026 outlined that they would require CAD$3 billion (£1.8 billion/$2.3 billion/€2 billion) of city, provincial and federal funding for their plan.

Their bid proposal, publicly revealed last month, revealed that the Games would cost CAD$5.3 billion (£3.1 billion/$4 billion/€3.5 billion) in total.

The remaining funding would come from Games revenues.

Increased transparency was included as a further requirement, with Calgary 2026 required to become subject to regulations, including freedom of information laws, to receive the funding.

“A decision to host the Games will impact Calgary for years to come, and there will be passionate voices on each side of the issue,” Ceci wrote.

“While the plebiscite may be non-binding from a legal perspective, a positive vote is a requirement for the Government of Alberta’s financial support.

“We trust Calgarians to make a thoughtful decision and this Government will not support a 2026 Winter Olympic and Paralympic Games against their wishes.

“Transparency is an important principle for our Government.

“As the Games will cost CAD$3 billion (£1.8 billion/$2.3 billion/€2 billion) of public funds, we will make a funding requirement that Calgary 2026 become subject to provincial transparency and freedom of information laws, or other equivalent rules or regulations.

“Let me close by taking the opportunity to thank you and your staff for working so collaboratively through this process.

“This commitment is based on a thorough review of the host plan that would not be possible without your cooperative efforts.”

Calgary 2026 chair Scott Hutcheson claimed the funding announcement from the province showed “solid progress”.

“Today’s announcement demonstrates solid progress and support from the Government of Alberta and we are thankful for that,” he said.

“We are also pleased out other Government partners – the City of Calgary and the Federal Government – continue to move forward with their discussions and negotiations.

“We will continue to offer our support, where needed.”

Despite Hutcheson’s backing, the lower than hoped figure will add further doubts over Calgary 2026 prior to their plebiscite.

The news would have come as a further blow to the International Olympic Committee, with the candidacy of Stockholm also in doubt.

The Swedish capital’s City Council's two newly-merged parties agreed they will not host the Games earlier today.

Despite the development, Stockholm 2026 has said in a statement that it looks forward to sharing its plans with the new coalition and that the dialogue will begin immediately, starting with a meeting and update for the Mayor-elect on all relevant information.

The developments come just three days after the voted at its Session to shortlist Calgary, Stockholm and a joint attempt from Milan-Cortina d'Ampezzo in Italy as candidates.