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ATLANTA FINANCING IS STILL A TOUCHY SUBJECT
Published July 19, 1995
The "Herculean effort" to privately fund the '96 Games is examined in today's ATLANTA CONSTITUTION. Melissa Turner writes, "Atlanta Olympic organizers are going to be hustling for dollars until the very end." ACOG Chair Billy Payne: "We will raise enough money to do the job." But with the "constant struggle" for money continuing to "haunt" all involved, Turner reports the IOC "now is hoping the pressure to avoid red ink doesn't overshadow its grand 100th birthday celebration." In addition, one top IOC official "said publicly that the organization would never again place the Olympics in a city without deep government pockets to ease the money-raising tension." IOC member Richard Pound: "That uncertainty could have been taken out of play if there was a financial backstop." While ACOG organizers believe current goals will be met, there is a "growing concern" that those financial targets may rise before the Games begin. ACOG CFO Patrick Glisson: "We live on the edge of a razor blade. While at the end of the day we may have the money in the forecast, we are balancing a host of options for expense increase" (ATLANTA CONSTITUTION, 7/19).