$2 Billion Olympics, britain, Britain Olympics Debt, england, olympics
$2 Billion Olympics, britain, Britain Olympics Debt, england, olympics

Revealed: Britain's $2 Billion Olympics Black Hole

London Times   |  Jill Sherman   |   January 14, 2008 10:00 PM


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Britain faces a £1 billion black hole after the 2012 Olympics because of "ludicrous" property price projections backed by ministers, it emerged last night.

Today the Conservatives and Liberal Democrats will, for the first time, vote against government plans to give the Olympics more money. Their move comes after a report for the London Development Agency (LDA) suggesting that the Government's estimates for the amount it will recoup in land sales after the Games are unrealistic. The shortfall will hit heritage, sports and arts projects already suffering from tight squeezes on their budgets.

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- MikeDu See Profile I'm a Fan of MikeDu

The Olympics has been a SCAM for years now. Its all about perks & payola, the athletes are little more than trained poneys doing their antics under the big top to pull in the crowds. The host cities are treated like suckers. Any organization that would put a political hack like Romney in charge has got to have some serious problems.
Its about a this point in the conversation that someone brings up the 'noble spirit of the Olympics', competing for the glory and all that crap. A little history lesson, the classical Greek 'Olympics' managed to keep their own 'purity' for about a hundred years too, after that it became pretty much all about fleecing the tourists.

    Favorite    Flag as abusive Posted 02:35 PM on 01/15/2008
- Semaj51 See Profile I'm a Fan of Semaj51

My-my... Seems I remember so many people who were fusty about how the Olympics that were held to the U.S. were way too commercialized. It seems that while he have trouble winning wars, we can make the Olympic games "money-makers" and not tax black-holes.

    Favorite    Flag as abusive Posted 12:45 PM on 01/15/2008
- Macready See Profile I'm a Fan of Macready

no one I know in London wants them . . . they were underbudgeted from the start and the taxpayer is footing the bill . . . and most of us will have to leave London just to keep sane while they are on . . . what a waste of money . . .

    Favorite    Flag as abusive Posted 09:15 AM on 01/15/2008
- VivaZapata See Profile I'm a Fan of VivaZapata

Big snooze. The best thing about the winter olympics in Turino was the TV tour of the area and Pavorati singing Nessun Dorma. That snowboarding kid was fun to watch too!

    Favorite    Flag as abusive Posted 07:08 AM on 01/15/2008
- Dendroica See Profile I'm a Fan of Dendroica

Has there been a money-making Olympic games in recent years?

The idea isn't that the games themselves generate revenue, but the new construction and the tourist advertising ends up making money in the long run. At the very least, the local contractors can all retire and own homes in other previous Olympic cities.

    Favorite    Flag as abusive Posted 05:42 AM on 01/15/2008
- PackFanInChi See Profile I'm a Fan of PackFanInChi

I hope Daley knows what he's gettin into... the IOC is gonna crack down big time. This could either really help or really hurt chicago.

    Favorite    Flag as abusive Posted 11:38 PM on 01/14/2008
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