Budget Worries

The Public Accounts Committee (PAC) has warned (in a statement of the "bleeding obvious") that the London Olympics is facing a "worryingly tight" financial position.

The fact that the original "budget" has spiralled from £3BN to £12BN (including £2BN running costs) should have given them a clue some time ago that all was not well.

The PAC, taking into account the amount of contingency funding already set aside to cover predicted risks, noted that the ODA was left with £194M "headroom".

The final costs for this folly are likely to be around £20BN.

Olympic Medals won during the Beijing 2008 Olympics

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Anti Competitive

The organisers of the London 2012 Olympics have been accused of being anti competitive, as a result of their decision to ban all payments by credit cards except for Visa.

No other cards will be accepted to buy tickets, merchandise or even food and drinks.

Visa, according to The Sun, have paid £61M in sponsorships fees; part of which gives them the right to exclusivity.

Whilst it may seem ironic that a sporting competition bans competition, it should be remembered that the Olympics are not about sport but money!

Olympic Medals won during the Beijing 2008 Olympics

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No Political Football

AFP reports that Tessa Jowell, the Olympics Minister, told reporters at the start of a three day visit to Sao Paulo (which is hosting the 2016 Olympics) that the 2012 London Olympic Games will not be kicked around like a political football during the upcoming general election.

Of course they will!

She then added that she hoped that she would still be in charge of them after the polls.

Of course she won't!

Finally, for good measure, she said that they were "on budget".

Of course they're not!

Olympic Medals won during the Beijing 2008 Olympics

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Tent City

Sir John Madejski, Reading Festival organiser Melvyn Benn and Andrew Cumpsty a Reading councillor are proposing plans to create a "tent city" in the Reading area during the 2012 London Olympics.

They claim that people who may not be able to get to Olympic events could be attracted to the town if giants screens were installed at the camping site.

This is a good idea for the people of Reading, for why?

So much for the Olympic's Legacy!

Olympic Medals won during the Beijing 2008 Olympics

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Ticket Issues II

Shamed by pressure from the London Assembly and general negative publicity, Locog has announced that the British public will have access to 300,000 extra tickets for the London Olympic Games in 2012.

This increase brings the total number of tickets available to eight million.

There will be a ballot in spring 2011 to allocate 75% of the tickets.

However, prices will not be revealed until this autumn.

Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"

Tickets

Locog has now launched www.tickets.london2012.com which enables UK and EU residents, interested in buying tickets for the London 2012 Games, to register their interest.

Tickets will actually go on sale next year.

The price of the tickets still remains a mystery. The bid process had promised some tickets at less than £30. However, Locog have indicated that this price may be too low in order for it to meet a target revenue of £441M.

Olympic Medals won during the Beijing 2008 Olympics

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We're Backing China II

Olympics pin badges, depicting a landmark building in each of London's 32 boroughs and the City of London, will soon be on sale across central London.

Hoorah!

Those who "rush" to buy these badges will be happy to know that their monetary contribution will go in part to support the Chinese economy (the hosts of the 2008 Olympics).

As I recently noted, the badges are made in China.

I dare say that in 2016 the host nation will employ a British manufacturer to make their pin badges.

Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"

Ticket Issues

Following on from concerns about British citizens being at the back of the queue for tickets to see the London 2012 Olympics, the London Assembly have asked London 2012 organisers to clarify exactly how many tickets will be available for the Olympics and how much they will cost.

The London Assembly, quite rightly, are of the view that the public needed to have faith in the ticketing system.

However, the organisers remain cagey and have stated that details will not be revealed until after the Paralympic Winter Games in Vancouver had finished.

There will be 9.2 million seats available during the event.
Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"