Ten years ago, when Glasgow hosted the Commonwealth Games, the atmosphere throughout the city was electric, with nearly 700,000 sporting fans from all over the world flocking in to catch a glimpse of some of the biggest names in sport.

Like many Glaswegians, I was one of over 12,000 volunteers at the Games and felt immense pride to be showing my city off to the world.

That sense of civic pride has since diminished after a decade of austerity and all the challenges it has brought, but the opportunity to host the 2026 Commonwealth Games – although on a much smaller-scale – is a tantalising opportunity to rejuvenate Glasgow – and give our people an occasion to, once again, feel proud to be Glaswegian.

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But this is not 2014, the public finances are under more strain today.

At a time when so many of our public services are facing cuts, it would not be right to commit hundreds of millions of pounds of the nation’s budget to a major sporting tournament.

However, the flat-pack proposal to host the 2026 Games is entirely different to the grand project of 2014.

Just over £100 million of inward investment is being offered to Glasgow by the Commonwealth Games Federation and an additional multi-million-pound investment would go into upgrading existing sports facilities across the city – meaning there is no ask of the taxpayer.

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Arguably the Games will help reduce strain on taxpayers as the cost of capital works in the city will be borne by the Games, not by the public purse.

That deal is a no-brainer to me. It would be outrageous to let £100 million of investment pass us by.

This is a unique opportunity to host another major sporting event in Glasgow – one which will utilise our existing world-class infrastructure like the Sir Chris Hoy Velodrome whilst revamping community sports facilities like the Tollcross Pool and Scotstoun Stadium, enhancing the legacy of the 2014 Games.

With corporate sponsorship, ticket sales and the tourism spend from full occupancy of Greater Glasgow’s 11,000 hotel rooms, it would give a major boost to the Glasgow and Scottish economies – but without the public cost that is usually necessary to stage such events.

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For £425 million of public investment, the 2014 Games added £740 million to Scotland’s economy, a net gain of £315 million, while supporting an average of 2,100 jobs.

Despite being on a smaller overall scale, we would expect to see a very good economic return with no significant public outlay in 2026.

Not only that, but the circumstances surrounding the 2026 Games with the Australian state of Victoria advising that they were withdrawing as the host last year now means that the future of the Commonwealth Games itself is in jeopardy.

By taking up the role of host city once again, Glasgow – the city that held what is widely-regarded to have been one of the best-ever Games – will give it a future, albeit in a more compact and sustainable form, so that Scottish athletes can continue to have a milestone to strive for.

For many of them, the Commonwealth Games will be a career highlight.

As the Chair of Commonwealth Games Scotland, Ian Reid CBE, has said, the decision on whether to move ahead with this extremely attractive proposal now lies with the Scottish Government, but the window of opportunity is rapidly closing.

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The Scottish Government would be foolish to turn down the opportunity of £100 million worth of investment into the Glasgow and wider Scottish economy, with a guaranteed return.

But this isn’t just about the economic potential; the Commonwealth Games is one of the biggest sporting events in the world, with a global audience of more than a billion people– it is the ideal vehicle to promote our city to the world.

We should seize this opportunity to host the Games again and use it as a much-needed springboard to revitalise Glasgow on the world stage after a decade of stagnation.