Monday, November 29, 2010

London Olympics Costing Less Than Expected

Olympics officials in London are projecting lower costs for hosting the event. Recent estimates put the total cost of hosting the event $46.9 million lower than previously expected.

The report estimates the final cost of the Olympics and Paralympics at $11.6 billion, after $32.3 million was cut from the budget of the main stadium. That includes a savings of $11.3 million by scrapping a planned fabric wrap around the venue.

Olympic Delivery Authority chief executive David Higgins said organizers have saved a total of $1.2 billion since construction began.

Cost of London Olympics trimmed $46.9 million
USA Today
November 9, 2010