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?9 Billion cost of London Olympics

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bendover On November 25, 2007

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Muff, Ireland
#1New Post! Mar 15, 2007 @ 18:29:36
News today that those who estimated the cost of hosting the London Olympics got it monumentally wrong. Needless to say their estimate was grossly under what they now feel the games are going to cost the people of London.

I feel that even this massive estimate will prove to be wrong and by 2012 the people of London will paying even more for the privilage of allowing big business to make a killing out of the Olympics.
jmo On April 29, 2021
Beruset af Julebryg





Yorkshire, United Kingdom
#2New Post! Mar 15, 2007 @ 18:39:30
I dont particularly care, acording to some report on the internet that I read the Lottory is paying like 25% of the cost or something.

The Olympics are bound to cost alot of money, I really don't think there is anything that can be done. (Other than, ofcourse, just using our existing facilities...but hosting the olympics and not overpaying for unneeded sporting facilities!? it's not right).
bendover On November 25, 2007

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Muff, Ireland
#3New Post! Mar 15, 2007 @ 18:45:30
There are an aweful lot of charities who will get much less from the Lottery fund because the price of the Olympics.
raditz8526 On July 02, 2009

Deleted



, Minnesota
#4New Post! Mar 15, 2007 @ 19:06:37
How much will the city make from the Olympics?
johnnyposter On July 03, 2011




my box behind Arbys, Ohio
#5New Post! Mar 15, 2007 @ 19:09:00
Probably not 9 billion
bendover On November 25, 2007

Deleted



Muff, Ireland
#6New Post! Mar 15, 2007 @ 19:10:50
The hotels and restaurants will make a fortune, but not 9 billion of a fortune. You can be sure the cost of a hotel in London during the Olympics will sky rocket.

I don't think that any city that has hosted the Olympics has ever made it break even. Many cities are still paying for their games many many years after the event.
Jennifer1984 On July 20, 2022
Returner and proud





Penzance, United Kingdom
#7New Post! Jul 22, 2012 @ 17:17:13
https://www.guardian.co.uk/sport/2012/jun/13/london-2012-olympics-under-budget

So much for predictions that the Games would go over budget.

Back in 2007 the final cost of the Games was estimated to rise to £9.3 billion. The cost is now expected to fall below £9 billion. The government built in a contingency fund of £2.3 billion to cover pre-agreed elements such as security (and the pigs ear that G4S made of that is a separate issue).

With all major projects completed ahead of schedule and within budget, and the few remaining elements of the Games just about finalised, there is still £476 million of government contingency funding still unspent which will be returned to the exchequer.

All this goes to show that these games have been remarkably well organised and all the projects executed with efficiency and cost effectiveness.

Yes, I know the original Games estimate was £2.3 billion, but only the most naive would have believed that could possibly be stuck to. The cost was always going to rise.

But since the doom and gloom merchants of 2007 predicted costs spiralling wildly out of control, it's pleasing to see that we've got here within the revised budget and indeed, the government will have a little cash windfall coming back as well as the financial benefits of much larger than expected crowds coming here to spend their money.

Its even stopped raining and the sun is starting to show its face.


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