Labour MP Clive Betts has highlighted the need for transparency in public private sector deals for delivery of the Olympic developments and has called for parliamentary scrutiny of such arrangements. Deals were being discussed with Stratford City Developments ahead of consent for the Olympic bill to ensure conversion of flats into housing for 4,500 athletes (R. Booth, The Guardian, July 29, 2005). In 2003, the consortium Stratford City Developments and the LDA agreed not to frustrate the other's planning applications. The Guardian article notes: "A director of the consortium, Sir Stuart Lipton, was also a senior government advisor on the Olympics plans at the time of the co operation agreement. He was later forced to resign from his post as chairman of the Commission for Architecture and the Built Environment following accusations of conflict of interest between his role as government adviser and a leading private developer".
Submitted by Carolyn Smith on Sat, 11/11/2006 - 16:17.
The £550 million funding for the London Olympics will initially come from London council tax payers, £1.5 billion from the National Lottery, followed by a further £75 million from council tax, and £250 million from the London Development Authority (LDA). The International Olympic Committee (IOC) insists that host cities underwrite all liabilities. £15 million was spent on the London bid alone (Blowe, 2004; 2005).
Submitted by Carolyn Smith on Fri, 03/11/2006 - 19:52.
The fraught disputes over how best to recoup the high construction and maintenance costs of the London Olympic stadium conform to a pattern previously seen elsewhere in England and abroad. The story of the Don Valley stadium in Sheffield provides a cautionary tale of how the visionary delusions of ambitious politicians end up ruining the chances of ordinary people gaining adequate access to affordable opportunities for healthy recreation.
Submitted by Martin Slavin on Wed, 01/05/2013 - 16:05.
In a house in the London suburb of Ealing, hired for the occasion by a film company, an actor playing the part of an average guy, is checking in a mirror how he looks in his recently bought shirt. Out from behind the mirror steps the winner of the recent Olympic women’s heptathlon who reels off some spiel about a 2% discount. The actor/guy plays gobsmacked that this princess should emerge from behind his mirror, announce some cashback offer then humiliate him over his new shoes.
Submitted by Martin Slavin on Thu, 28/03/2013 - 20:00.
So what exactly is an Olympic sports legacy? The Government seems to think it is more spectacles of elite sport. George Osborne has decided to waive tax rules to allow Usain Bolt and other top athletes to attend the Grand Prix event to be held at the Olympic Stadium in the summer. He says this is to ‘secure the Olympic Legacy’. Bolt hasn’t yet said he will come. Boris, son of John, has also weighed in with a spectacle of his own, a two day cycling festival to be attended by up to 70,000 including elite cyclists like Wiggo and Trott. Spiffing away Boris said: ‘"Following the superhuman efforts of our Team GB cyclists last year, thousands of cycling enthusiasts, both experienced and amateur, riding a fantastic route through the streets of our fine city is surely a fitting legacy’.
Elsewhere local media are now regularly reporting so-called ‘Olympic Legacy grants’ being made to clubs around the country. Featherstone Rovers Rugby League Club, for example, has been given £50,000 to ‘revamp facilities’. Warlingham Squash and Racketball Club in Surrey has also got £50,000 to make improvements like putting in a boiler and building women’s changing rooms. Several clubs in Northamptonshire are to share £500,000 to do up their facilities. These grants are described as ‘Olympic legacies’. However, it is hard to see what is specifically Olympic about the grants. They are just National Lottery funds which are being distributed by Sport England from a pot of £16.6million from something called the Inspired Facilities Fund.
A couple of sports festivals and a £16.6million fund are not going to make much impression on the present furore surrounding the decline in school sports funding. Far from inspiring a generation London 2012 saw sport participation in the target group of 16 to 25year olds fall.
Nor does it make up for the £2.175billion taken from the National Lottery for the Olympics. This raid on the Lottery included the loss of hundreds of millions of pounds taken from children’s sport in the name of elite sport. Nor has the DCMS repaid the Big Lottery Fund from which it grabbed £638.098million. After over a year of lobbying and a campaign now supported by more than 3,200 charities demanding the return of £425million of the stolen funds it has indicated it may repay £100 to £150million, but not until 2014 at the earliest. Jowell originally promised to repay all the Big Lottery Fund money. The DCMS also say in an attached Freedom of Information response: 'Repayments will not include interest based on inflation'. Most of that is probably lost for good. The rest, of course, will not be repaid at all.
A full rundown of the money taken from the Lottery, which could have been spent on other, better causes was provided in the DCMS Freedom of Information response:
'a total of £2.175 billion of Lottery funding is included in the £9.298bn public sector funding provision for the London 2012 Olympic and Paralympic Games…
Submitted by Julian Cheyne on Fri, 08/02/2013 - 04:05.
Following the ONS' declarations on its inability to quantify the impact of the Olympics further information has been published on LOCOG's expenditure, which only tends to add to the confusion. LOCOG says it has broken even on costs of £2.4 billion. However, with ticket sales of £659 million, sponsorship of £764 million, £609 million from IOC media earnings and £85 million from merchandising making a total of £2,087 million it still had to rely on a government grant of £111 million for half the cost of the Paralympics and £200 million from 'incomes' (whatever that is!) meaning it did not meet its costs without assistance.
Submitted by Julian Cheyne on Sat, 10/11/2012 - 01:50.
Preparations for the London 2012 Olympic Games Feb 2012 report
Submitted by Martin Slavin on Fri, 06/04/2012 - 18:54.
A recent sponsorship deal has seen the London Organising Committee for the Olympic Games accept money from Dow Chemical. Dow will provide a fabric "wrap" which will be placed around London's Olympic stadium.
According to Britain's Guardian newspaper the wrap's purpose is to reduce wind inside the stadium. But, as the metaphor says ...
Submitted by Mike Wells on Mon, 19/12/2011 - 15:10.