Those of you who doubt that the Olympics is desinged to make money, rather than to promote sport, should note the fact that yesterday Paul Deighton was appointed to head the London 2012 Olympics Organising Committee.
He is currently chief operating officer of Goldman Sachs's European business.
Deighton will have responsibility for the running of the Olympics project, and was selected from a broad range of high-calibre applicants.
Lord Coe, chairman of London 2012, said that Deighton was "the right person to lead the London Olympic Games organising committee on its mission to produce an outstanding Olympic Games for the athletes and youth of the world in 2012".
Deighton will start in early 2006, and end his 23 year career at Goldman.
He is worth an estimated £100M.
Tessa Jowell, culture secretary, said:
"Paul will bring a wealth of experience and knowledge to the task of planning and then staging the Olympic Games and Paralympic Games in 2012".
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