Blue Pitch Will Not Be Forced Out Of Ibrox IOC Faces Tricky Choice Chime Poised To Be Sold For $546M ManU Sponsors Push For Asia Tour Betfair Hires Cubo To Handle Ad Business AP: Rio Water A Threat At 2016 Olympics RFU Issues Social Media Guidelines Football League Partners With Liftshare BT Records Strong Q1 Growth In TV Olympic Notes
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/October 24, 2012/Olympics
U.K. Government Reveals London Games Came In Under Budget
Published October 24, 2012
DIVIDING UP THE NUMBERS: REUTERS' Martyn Herman reported the final quarterly economic report published by the U.K. government's Department for Culture Media and Sport said that "the overall cost of delivering the Games was £8.92B ($14.3B), lower than the £9.3B ($14.8B) set aside." LOCOG's "own £2.2B ($3.5B) operational budget for the day-to-day running of the Games came almost entirely from sponsorship, ticket sales, merchandise and from the IOC." The "final figure for Games-time security does not take into account any savings resulting from the security firm G4S's failure to deliver its Olympic contract in full" (REUTERS, 10/23). In London, Helen William wrote that according to the estimates the Olympic Delivery Authority's "construction and transportation program has come in at £6.714B ($10.7B)." This number "is a drop of £47M ($74.9M) on the previous estimated figure." ODA saved a total of £1.032B ($1.6B). The underspend "will be held by the Treasury to help pay down the deficit" (INDEPENDENT, 10/23).