Number Of Americans Attending Rio Games Plummets IOC To Rethink Global Antidoping Efforts Rio Mayor Rallies Confidence In City's Ability To Host Games Calgary Exploring Bid For '26 Games IOC Backs Ban Of Russian Track Team Olympics Officials Reveal Medal Designs Rome '24 Appoints Ketchum For Global PR Brazil Official Downplays Issues Leading Up To Rio Brazil Official Downplays Rio Concerns Colangelo Says USA Hoops Monitoring Zika
Economic Downturn Contributes To Budget Shortfall For VANOC
Published August 24, 2009
Key components in the plans for the '10 Vancouver Olympics are "slowly coming undone because of a worldwide recession seen as the worst economic slump since the Second World War," according to Stephanie Levitz of the CP. At a time when the focus "should be on the final few details, a multi-million dollar budget shortfall is fraying the close ties that bind" VANOC and IOC officials. The IOC Coordination Commission "makes its final trip to Vancouver this week and will review transportation, accommodation, venue arrangements and plans for the opening and closing ceremonies, among other things." But plans in "some of those areas can't be finalized because of an issue that's become a key point of contention between the IOC and Vancouver organizers" -- $30M (all figures Canadian) "worth of sponsorship money." VANOC "has repeatedly claimed it's owed a further [$30M] from the IOC's take from major international sponsors," but the IOC disagrees.
IOC Could Give VANOC Greater Share
Of Broadcast Revenues To Help Bridge Gap