The Olympics

The Olympics


News, information and stories about the Olympic Games.

Monday, 3 April 2006

£100M Funding Gap

It seems that, despite the enthusiasm of the politicians, there is a £100M funding gap in the finances of the 2012 London Olympics.

Indeed, it is expected that this figure may in fact grow.

The precise costs of the Games are unlikely to be known until after they have been held. However, some estimates are already being made.

UK Sport have come up with the £100M figure, which is hoped to be plugged by the private sector.

This will not be so easy, as company sponsorship is limited to individual Olympic sports rather than individual sportsmen; companies prefer to sponsor individuals rather than sports.

There also seems to be some confusion as to who is meant to be raising this money. UK Sport's performance director, Liz Nicholl, has said that her body are "not experts in raising money" and it would, she believes, "be inappropriate to divert our energies into that. Sponsorship is not our core business."

A very British confusion and reluctance to talk about money, may well scupper these games.

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