BusinessCompany NewsLondon Olympics bill again under fire

London Olympics bill again under fire

MPs blame London Olympic organisers for spending money ‘like water’ on Aquatics Centre

The
culture,
media and sport select committee
‘s latest report into the Olympic Games
commends the progress made by
LOCOG, the
Olympic Delivery Authority and the London Development Agency, but the
government’s funding and planning of the event has again attracted scathing
criticism from MPs.

The report on the games also claims the contingency fund for the Games is
almost £1bn more than the Government has admitted, sportslife.com
reports.

The Aquatics Centre in particular has been singled out by the MPs for its
cost blow out from the £75m put forward at the London bid, to the final £242m
announced earlier this month.

‘It appears to be over-designed… and an expensive way of providing the
facilities for water sports needed during and after the Games,’ the report
notes. ‘The history of the Aquatics Centre shows a risible approach to cost
control and that the Games organisers seem to be willing to spend money like
water.’

Further reading:

Deloitte appointed official Olympics firm

Read
the sportinglife.com story

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