Mike Ashey Takes CEO Role Steve Parish Calls Relegation 'Scary' Rival Questions Wiggins' TUE Use Brisbane 2028 Gets Continued Backing ManU To Be Forced To Pay $17.9M Ladies GAA Added To Free-To-Air Asian Sports Ministers Lay Groundwork Alcatel Inks Local Deal With Liverpool MLB In Talks To Hold Games In London Liverpool Named Top Selling Club
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).