Friday 20 October 2017

London Olympics comes in slightly under budget

Helen William

THE cost of the London 2012 Games has come in at £377 million (€462m) under budget.

The overall cost of the Games is forecast at £8,921bn from a budget of £9,298bn.

With some contracts still to be wound up after the end of the Games, ministers are describing the underspend as a "prudent" estimate.

Sports minister Hugh Robertson described the feat of managing the complex programme within budget as "a tremendous success".

He said: "The work of the construction and delivery teams, from the ODA (Olympic Delivery Authority) and Locog (London Organising Committee of the Olympic and Paralympic Games), has set a very high standard and I have no doubt that London 2012 has set a new benchmark for the management of Olympic and Paralympic Games in future."

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