Rio 2016 Organizing Committee CEO Says Olympics Will Be On Time, On Budget
Rio 2016 Organizing Committee CEO Sidney Levy "has vowed on Monday to deliver the Games on time and on budget," according to XINHUA. Brazil "hosted the month-long FIFA World Cup without any major hitches," but the build-up to the football showpiece event "was far less smooth." Levy said that the Olympics "are unlikely to face similar embrassment." He said, "We have a target to run the Games on budget, so we need to be very rational in the optimization of the resources." Levy said that the majority of the operating budget "will be covered through sponsorship, merchandising, ticket sales and a grant" from the IOC. Levy: "We are exactly on budget so far, the IOC is very positive about that. That is possible to deliver a great Games on budget" (XINHUA, 8/18).