London Mayor To Ask China For Assistance For 2012 Games

Johnson Planning To Ask China To  Help Pay For 2012 London Olympics

London Mayor Boris Johnson is “planning to go cap-in-hand to the Chinese government after the credit crunch and falling house prices left a [US$446M] hole in funding for the 2012 Olympics,” according to Chris Gourlay of the LONDON TIMES. In return for funding, Johnson "plans to offer Beijing a share in a university that could one day be based in the athletes’ village and media centre and run jointly by institutions in Beijing and London." Johnson “discussed the idea two weeks ago during the Paralympic games” with Beijing Deputy Mayor Zhang Mao, who is “understood to be enthusiastic, both about the university and about investing in other Olympic venues.” A spokesperson for Johnson said, “The idea of creating a university [in the athletes’ village] appeals massively to the mayor.” Johnson, who has “expressed concern at the lack of a coherent ‘legacy master plan’ for the Olympics site, will meet Zhang again in London next month.” Gourlay noted developers are “finding it harder to raise cash thanks to the credit crisis and the collapse of the housing market, which has also cast doubt on plans to sell the site for housing after the games.” Architects have been “ordered to reduce the number of apartments in the village by 1,000, meaning five athletes will have to squeeze into flats originally designed for four” (LONDON TIMES, 9/28).