Rio 2016 Organizing Committee May Need $700M In Government Funds To Meet Budget
Olympic organizers said that they may have to use $700M in government money "to meet the operating budget for the 2016 Rio de Janeiro Games," according to the AP. LOC COO Leo Gryner said that as conditions now stand "we need this $700 million." The original budget estimate of $2.8B "was submitted before Rio won the Games" in '09. The operating budget is used to run the Games, "and is separate from the capital budget, a mix of private and public money used to build needed infrastructure" (AP, 8/2).