Zimbalist

“The organizing committee is saying that they will reimburse the venue cities for their expenses, provided that they have a surplus,” said Zimbalist.

“At the end of the day, this is an economic earthquake within the system,” said Andrew Zimbalist, economics professor emeritus at Smith College.

There will be no end to these golden parachutes, Zimbalist and others said, until the business model changes and significantly more revenue is redirected to the athletes.

He later ventured into stage musicals, performing in a 1980s touring production of “My One and Only” that starred Tommy Tune and Stephanie Zimbalist.

Summer Olympics can require more than 40 venues, Zimbalist said, “and they’re not venues that are normally used” again.