The Rio Olympics are primed for a 10-figure price hike.
Next month's Summer Games are on pace to incur a $1.6-billion (U.S.) cost overrun, bringing the final tally for sports-related costs to $4.6-billion, according to projections in an Oxford University study released Thursday.
"The billion-dollar-plus cost overrun on the Rio Games comes at a time when Brazil can ill afford it, given that it's facing its worst economic and political crisis since the 1930s and the state of Rio de Janeiro is particularly hard hit by recession," said Bent Flyvbjerg, the study's lead researcher, in a press release.
The Rio Olympics are hardly unique in costing more than anticipated. The researchers found that every Summer and Winter Games they studied went over budget, with an average cost overrun of 156 per cent in inflation-adjusted terms.
That said, Rio's total costs are somewhat muted by historical standards.
Further, when looking at cost overruns by percentage, Rio's figure is smaller than most.
Still, for those affected by the country's crippling economic crisis, there's likely no silver lining in these budget-busting Summer Games.