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Rio Games Sees Budget Increase By 25% In Wake Of Project Delays, New Transit Plans

04 / 18 / 14

Brazilian authorities "unveiled an infrastructure budget" of $10.76B for the 2016 Rio Olymipcs, which is 25% "more than planned, as they try to reassure the world they can deliver facilities on time," according to Pedro Fonseca of REUTERS. The budget "covers 27 projects in urban development and publ...

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Tags: Olympics, Brazil

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11/15/12
Swiss Sports Profits From Lottery Money

Swiss Olympic "has received CHF24.6M ($26M) from Switzerland's lottery companies Swisslos and Loterie Romande in '11," according to Peter Jegen of the NEUE ZÜRCHER ZEITUNG. Swiss Olympic's annual report revealed that the total payout from the Sport-Toto-Association was exactly CHF24.604,033.35, ...

Tags: Finance, Europe, Olympics

11/15/12
Olympic Notes

The Spanish Tennis Federation (RFET), in support of Madrid's bid to host the 2020 Olympic and Paralympic Games, has chosen "Madrid's Magic Box" (Caja Mágica) as its new coaching headquarters. The Caja Mágica has also been proposed as a venue for the men's and women's tennis tournaments ...

Tags: Olympics

11/14/12
Olympic Sponsors Help London Hit Target

Sponsorship deals and record revenues from the sale of almost 11 million tickets "helped London organisers to hit their target" of raising £2.4B ($3.8B) to stage the Olympics and Paralympics, according to Keith Weir of REUTERS. LOCOG CEO Paul Deighton said that the income "covered the core cos ...

Tags: Olympics, United Kingdom

11/14/12
LOCOG: Unsold Tickets In Thousands

Thousands of tickets for some of the London Games’ “most in-demand Olympic events during the summer went unsold,” according to LOCOG figures cited by Jacquelin Magnay of the London TELEGRAPH. Track & field had “more than 2,000 tickets unsold, there were hundreds of ticket ...

Tags: Olympics, United Kingdom

11/14/12
OCA Offers Support To Cambodia

The Olympic Council of Asia "has promised Cambodia sustained logistical and financial support over the next few years to augment the Kingdom’s sports development resources," according to H S Manjunath of the PHNOM PENH POST. The OCA "will be lining up two new initiatives while extending its on ...

Tags: Olympics, Asia

11/14/12
Olympic Construction Generates Billions

Construction of London Olympic venues "generated an economic boost" of £7.3B ($11.6B) to the U.K, according to Roger Blitz of the FINANCIAL TIMES. An independent report commissioned by the government showed that "much of the benefit was felt in London and the south." Accounting organization Gr ...

Tags: Olympics, United Kingdom

11/13/12
Rio 2016 Appoints New CEO

As part of its strategic planning, the Rio 2016 Olympic and Paralympic Games Organizing Committee revealed an internal restructuring process with the goal of increasing the committee's capacities in different areas of the project, as well as improving internal procedures and coordination between all ...

Tags: Olympics, South America

11/13/12
No Sevens In East Asian Games

The Chinese Olympic Committee "has turned down a request" by the Asian Rugby Football Union to include sevens in next year's East Asian Games in Tianjin, according to Alvin Sallay of the SOUTH CHINA MORNING POST. ARFU VP Trevor Gregory and Secretary General Ross Mitchell "presented rugby's case for ...

Tags: Olympics, China

11/12/12
Windsurfing Makes Olympics Return

Windsurfing has "reclaimed its place in the Olympic program" after the Int'l Sailing Federation (ISAF) voted to reinstate it at the expense of kiteboarding, according to Stephen Wood of REUTERS. The ISAF decided to "retain men's and women's windsurfing" at the governing body's annual general meeting ...

Tags: Olympics, Europe

11/09/12
Study: Sponsors Benefit From Games

A new study has revealed that 51% of Great Britain believes the London Games made the country a better place. The study was conducted by Havas Sports & Entertainment in September. It also showed that 53% agreed that the London Games was the greatest Olympics ever. This is double the number of pe ...

Tags: Olympics, United Kingdom

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