Sebastian Coe insists London Olympics 2012 will be within budget
Lord Sebastian Coe, who is the chief of the London Organising Committee for Olympic Games recently gave a statement in which he has confirmed that the cost for the London 2012 Olympic Games is currently within the determined budget for the event.
Lord Coe commented on the matter in the following manner, “We will maintain a balanced budget to the completion of the project and the infrastructure will be delivered within the budget that has already been agreed by government. Occasionally some things
are slightly more than you expect. On a lot of occasions they’re slightly less than you expect, but overall those changes have taken place within that £9,3bn envelope.”
While making the statement, the chief of LOCOG also addressed the criticism that the organising committee has been facing regarding the errors in the system of the sales of tickets of the Games that has been adopted by LOCOG.
There has been criticism regarding the ticket sales since the first time that they had been put on the market and the LOCOG have been facing problems with the ticket sales ever since.
Initially, the ballot type ticketing that had been adopted by the LOCOG was heavily criticised as the buyers had to go through a lengthy and tiring process before they could get their hands on the Olympic tickets. Even then in most cases, the buyers of the
tickets could not get the event s that they had wanted to view.
More recently, the LOCOG has decided to give the opportunity to those ticket holders who wanted to sell their tickets by providing them with a platform which was to be the official website of the Olympics. However, when the process started, the website could
not withstand the heavy traffic and the process had to be stopped.
Despite the assurances of the chief of the LOCOG, there have been reports that the expected cost of the Olympic Games will be well above what was budgeted.
According to a news report of the Sky Sports News, the final cost of the Olympic Games will go as high as £12bn and may even reach £24bn.
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