The Olympics

The Olympics


News, information and stories about the Olympic Games.

Monday, 9 March 2009

Olympic Fat Cats

Despite the UK being in the grip of its worst recession for decades, it is comforting to know that those people who are "running" the London 2012 Olympics are still able to earn a crust.

The chief executive of LOCOG the 2012 organising committee and former banker, Paul Deighton, has a package worth up to £750,000. He has earned a a performance related windfall of up to £100K, on top of his £450K base salary and guaranteed two year loyalty bonus of £204K.

Deighton is not alone in making a nice little earner out ot he Olympics. Salaries at the Government Olympic Executive totalled £3.9M in the last 12 months, that is a staggering 30% higher than the previous year.

Precisely why government Olympics staff are able to buck the market in this way is not clear. It should also be noted that the body that they work for in fact duplicates much of the work being done elsewhere on the Olympics by other bodies.

The British taxpayer is being taken to the cleaners, by a government bulldozing it Olympics vanity project through against the wishes of the electorate.

Olympic Medals won during the Beijing 2008 Olympics

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