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TOUGH FINANCIAL SLEDDING FOR '95 OLYMPIC FESTIVAL
Published July 14, 1995
With only eight days until opening events, the '95 Olympic Festival in Denver is facing a rough financial situation where "bills are barely getting paid and corporate sponsors (are) slow to pay their pledges," according to the DENVER POST. Ticket sales are currently at $1.3M, down significantly from earlier projections of $2.4M. Although sales are expected to increase, the goal still may not be reached. Organizers had hoped for a $50M boost to the local economy. Tim Leiweke, Festival Co-Chair, is credited with the recent improvement in ticket sales and corporate contributions. Some potential large local sponsors, like Coors and Pepsi-Cola, have been unable to contribute to the festival because of USOC rules prohibiting the Festival from being sponsored by a competitor of an official '96 Olympic sponsor. Leiweke: "It would have been nice if we could have done our own deals, but we just have to live with this" (Chance Conner, DENVER POST, 7/13)