BusinessCompany NewsLondon Olympic bid FD praises private sector

London Olympic bid FD praises private sector

Neil Wood, the finance director of London' Olympic bid, says he has 'lots of work to do'in the six months run-up to submitting the bid document, but has praised the private sector for its funding of the bid.

Link: More work for Olympic bid FD as London shortlisted

After London was shortlisted alongside Paris, New York, Madrid and Moscow earlier today, Wood, on secondment from Deloitte, thanked everyone in London and the UK who had helped the team overcome this first hurdle.

Wood, who has a £20m bid budget, told AccountancyAge.com that he would continue to progress plans for the regeneration of London’s East End.

‘Last week we announced that we had 60% of our private sector target funding for the bid’ – that’s in just three months which is fantastic .

‘Our advisory groups are beginning to engage with groups across the country to build support

‘And as a candidate city we will, with our partners, begin to build awareness, momentum and support for the bid around London and the whole of the UK.’

On the 14 November, Wood and his team must submit a bid document running to around 500 pages including architectural drawings, detailed financial information, regeneration plans, underlying economics and underlying philosophy.

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