The 2012 London Olympic Games will drain £440M from London's sport and arts groups. That is the finding of a report issued by the London Assembly culture and sport committee.
Chairman of the group, Dee Doocey, said that it was "ludicrous" that the grassroots groups that encourage children into sport and the arts will miss out.
It estimated that of the £2.2BN being taken from lottery causes to contribute to the £9.3BN needed to host the Games, London will lose about £440m.
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