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SBD Global/August 8, 2012/Olympics
AOC Calls For More Government Funding, But Has $100M Sitting In The Bank
Published August 8, 2012
THE COST OF GOLD: In London, Donna Bowater wrote that a total of 38 Medals going into day 11 puts Britain "on course for one of the country's most successful Games" with the chance to win more than 19 Gold Medals for the first time in 104 years. U.K. Sport's funding received £264M ($412.8M) this year, largely from investment through the National Lottery. If British athletes meet projections of collecting 57 medals, the funding equates £4.6M ($7.2M) per medal compared to £2.1M ($3.3M) for each of Britain's 28 medals in Sydney. In total, a combined total of 143 medals to date since '00 has cost just more than £4M ($6.26M) per medal (TELEGRAPH, 8/7). The WALL STREET JOURNAL's Sandra Hu reported on its China Real Time Report blog that "the cost of grooming China's new Olympic swimming star," Sun Yang, amounted to 10M yuan ($1.57M) over the past two years. Chinese Internet users are asking: "has it all been worth it?" The question hinges on whether China "has better things to spend its money on" (WSJ, 8/7).