SBD/19/Olympics

ATLANTA FINANCING IS STILL A TOUCHY SUBJECT

     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).
Return to top

Related Topics:

IOC, Olympics

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug