Pages

Wednesday, December 5, 2007

PostHeaderIcon London Olympics budget ‘out of control’

The 2012 London Olympic Games could go over its £9.3B ($19.1B; €12.9B ) budget, a top official admitted Tuesday.

The London Olympics budget is “slightly out of control” and is sapping resources from other social and cultural activity such as the arts, according to Paul Myners, chairman of the Tate.

John Armitt, the chairman of the Olympic Delivery Authority, told a British parliamentary committee that the £2.7B ($5.5B; €3.7B) fund set aside for budget overspend may not be enough.

Armitt said the ODA, which is responsible for building the venues and infrastructure for the Games, was sticking to tight budgets, but was unable to promise that there would not be overruns.

0 comments:

There was an error in this gadget

Follow Me on Twitter

Subscribe in a reader

Welcome to Olympic Updates, my continuing blog to following the Olympic Games. Founded in 2007, I have enjoyed providing news and information on the 2008 Beijing Summer Games and I look forward to keeping you up to date on the 2010 Vancouver Winter Games.

Watch Online

Twitter

2010 Olympic Event and TV Schedules

Exclusive Winter Olympics news & widgets at NBC Olympics.com!

Archieves

Labels