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  • BILLY PAYNE GIVES UPDATE ON GAMES TO USOC

         ACOG President/CEO Billy Payne gave the U.S. Olympic
    Congress an update on the preparations of the '96 games.  Payne:
    "We are precisely on the exact schedule that we first articulated
    some three years ago with respect to our construction plan."
    Payne told participants at the Congress in Nashville that nine
    sports facilities are being built at a cost of $450M.  He said
    the new structures will be completed "months in advance" of the
    Olympics.  In terms of raising $1.6B from the private sector for
    the games, Payne said the money has been coming in, "but at a
    slower rate than the committee had expected.  However, he expects
    the budget to be met."  Payne also said that ACOG "expects to
    have a modest surplus, which he prefers to call a contingency
    fund," of about $60M after the Olympics.  The L.A. Games reported
    a surplus of $260M after their Games in '84.  Payne expects the
    Games to be twice as large as the L.A. Games, with more than 200
    countries and territories from around the world participating
    (Athelia Knight, WASHINGTON POST, 11/11).
    

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