High Rio Costs Loom For New Zealand Olympic Committee Despite Surplus
The New Zealand Olympic Committee "recorded an increased surplus in its latest annual report, but is bracing for a costly couple of years ahead," according to Simon Plumb of FAIRFAX MEDIA. It forecasts that "the cost of sending a team to the Rio 2016 Olympic Games" will be 30% greater than to London in '12. At its annual meeting in Auckland on Wednesday the NZOC "declared a net surplus for the year" of NZ$329,802 ($285,200), up from NZ$115,141 last year. However, the figure carried over to '14 is less than the NZOC had budgeted, which was described as "closer to" NZ$500,000. Contributing to the shortfall "was the NZOC's relocation from Wellington to Auckland" (FAIRFAX MEDIA, 5/8).