The Olympics

The Olympics


News, information and stories about the Olympics.

Wednesday, February 16, 2011

The Budget

The Telegraph reports that the National Audit Office (NAO) has found “substantial risks” in the London Organising Committee for the Olympic Games budget, raising the possibility of the Government having to bail it out because of financial guarantees given to the International Olympic Committee.

No surprises there then, the original "budget" has swollen from under £3BN (when the UK was bidding for the games) to at least £12BN (including the £2BN running costs).

Does anyone (aside from LOCOG) seriously believe that the final costs will not exceed £12BN?

Olympic Medals won during the Beijing 2008 Olympics

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