German Gov't Supports Hamburg Bid Ecclestone, HMRC At Odds Over Tax Bill Crystal Palace Takeover Talks Break Down Rio Construction Workers' Strike Ends Olympic Rings Unveiled In Rio De Janeiro Rangers Chair Expects To Invest $30M Havas Media Group Agencies Merge King Vows To Make Rangers Investment Clubs Face Litigation Over Disabled Access Brazil, China Partner For Olympic Training
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/June 29, 2012/Olympics
LOCOG CEO Deighton Says Games Will Come In Within Budget
Published June 29, 2012
NOT SO FAST, MY FRIENDS: CBS News' Erica Hill reports the London Games are “on-track to be the most over-budget Olympics since” the 1996 Atlanta Games. CBS News' Mark Phillips notes when it landed the Games in '05, LOCOG promised to "deliver a more measured approach" than the extravagant 2008 Beijing Games. Organizers pledged the event would cost under $4B, "too good a bargain it turned out.” Phillips: “Within two years, the London organizers had already admitted that the Games would cost about four times as much, about $15 billion, once taxes and security costs were included. Lately they’ve claimed they’re actually under budget by about three-quarters of a billion dollars. Not so fast.” Phillips noted London "is not unique,” as just about all Olympics "run way over budget.” Phillips: “In the past 50 years, the Olympics have run an average of 170% over their original costing estimates” (“CBS This Morning,” CBS, 6/28).
A NEW UPRISING: Rock band Muse will “provide the official song" for the London Games. The track "Survival" will “be played throughout sports sessions at official venues for the games, such as when athletes enter and during the build-up to medal ceremonies” (TELEGRAPH.co.uk, 6/28). REUTERS’ Alan Baldwin noted LOCOG officials unveiled a “tailored audio-visual concept on Wednesday, including a music programme with an official track by chart-toppers Muse and new work by top artists.” The officials “pledged to plug in to the crowd's energy and not drown it out.” A library of “2,012 songs has been compiled with five music themes -- energy, primetime, extreme, heritage and world stage -- tailored to accompany specific sports and venues.” All venues will have “presenters appearing on big screens to guide spectators through the action and 'interact' with the crowd.” Ticket holders will also “be able to purchase in-ear wireless headsets” at a price of $15.60 for “live commentary during the action at events that might otherwise be confusing or unfamiliar.” In addition, specially-commissioned films “will be shown before each session at venues, giving spectators an overview of the sport with action shots of former and current athletes and using graphics to explain the basic rules” (REUTERS, 6/27).