MLS Makes Headway With Int'l Deals Bayern To Receive $74M From League Russian Hockey League Battered FIFA Sees 20% Jump From Asia, N. Africa More Than 1 Million Attend Cricket WC More Than 12M Watch Euro '16 Qualifier State Of Origin Could Fail To Sell Out Executive Transactions Gladbach Exec Calls For FFP In Bundesliga FIGC, Rai Renew TV Rights Deal Until '18
SBD Global/September 25, 2012/OlympicsPrint All
Volunteering groups from the London Games are set to receive millions of dollars from the Big Lottery Fund, according to Jasper Copping of the London TELEGRAPH. The community organization is set to "receive a share of the proceeds" worth up to £40M ($65M) when the former athletes' apartments in Olympic Village are sold to property-buyers. The village, which housed around 17,000 athletes and officials during the Games, is to be transformed into almost 3,000 homes, which are due to go on sale starting next year. However, rather than wait until it receives the money, the BLF "wants to start distributing the funds now," in order to “capitalise” on the country’s volunteering spirit highlighted by the Olympics. With the guarantee that it will receive between £30M ($49M) and £40M by the end of '14, the BLF "plans to start offering grants almost immediately," paid for initially out of other funds. It is planning to establish the as-yet-unnamed trust within the next three months and then invite bids. Under the plans, voluntary and community groups "will be able to apply for money to hold events, launch projects and build facilities to support their activities" (TELEGRAPH, 9/23).