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08 Feb 2007
IOC News

IOC talks about London 2012 budget issues

Listen to the IOC President's comments at the Executive Board meeting's press conference
Download the MP3 audio file (1,6 mb)
Watch the video (Total time 01:59, Windows Media Stream)
Gilbert Felli's comments:
The discussion on budgets that is taking place in London is, as the IOC has said on many occasions, part of a normal process when cities win the right to host the Olympic Games. Indeed, it is commendable that London is having this discussion so early, and moreover, is having it in such an in-depth and studied way. It is normal for host cities to review their plans and use the powers of the Games to accelerate wider regeneration projects.

We have total confidence in the London 2012 organisers – LOCOG, the ODA, the City of London and the government. Indeed, only today in the Executive Board meeting, the quality of the people working on the London project was praised by Denis Oswald, the Chairman of the IOC Coordination Commission. London 2012’s plans for their Games are ambitious and inspiring, and these Games will be some of largest and most spectacular in Olympic history.

As part of the IOC’s project review meeting at the end of this month, we will receive an update on the budget along with updates on all functional areas such as venues, sport, marketing, communications, transport, etc. This is standard practice - part of the normal order of the project review meetings we have with all host cities. 

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