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Article: 2012 Games expected to make [pounds sterling]100m profit; LONDON BID PREDICTS BONUS FOR GRASSROOTS SPORT IN BRITAIN.
- Article from:
- The Evening Standard (London, England)
- Article date:
- November 18, 2004
CopyrightCOPYRIGHT 2004 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ADRIAN WARNER
LONDON'S 2012 Olympic bid could make a profit of [pounds sterling]100 million which would be ploughed back into grassroots sport, it emerged today.
The Standard has learned that the windfall is forecast in London's bid book, which was handed to the International Olympic Committee on Monday and sets out a total cost of [pounds sterling]3.875 billion for the Games.
If the bid is successful, London plans to spend [pounds sterling]2.375 billion on new facilities for the Games and an additional [pounds sterling]1.5 billion on running the event.
But London 2012 chiefs make it clear the running costs will not involve ...