As I have noted many times on this site, the Olympics "budget" (currently standing at £12BN, including £2BN running costs) is out of control.
It is little wonder that it is out of control as the Telegraph
reports that the British Olympic Association (BOA) is again on its knees passing the begging bowl around for more money.
Andy Hunt, the BOA CEO, claims that there is a "financial gap" in its accounts.
What happened to the £6M in extra funding BOA was given by Locog just before the 2008 games in Beijing?
This £6M is on top of £28M from the Joint Marketing Programme Agreement, and another £6.5M from sponsorship/asset sales in 2009.
BOA seem to have pissed away £40M.
Where has all of this money gone, and why has the BOA failed to properly budget for the 2012 games?
With this level of incompetence it is hardly surprising that the main Olympics budget is out of control.
As regards the BOA, it is clear that not one penny more should be allocated to this inept and incompetent body.Olympic Medals won during the Beijing 2008 Olympics
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