The Associated Press reports Jacques Rogge, President of the International Olympic Committee (IOC), said the global financial crisis shouldn’t hurt preparations for the upcoming Olympic Games. He said, “no one has certainties today, but I am not pessimistic for the Olympic Games”.
Funding for Vancouver 2010 is secure and authorities in London, site of the 2012 Summer Games, have reportedly assured the IOC they can overcome the worldwide credit crunch.
Rogge said there is “no issue” concerning Vancouver, which had a budget for building venues set last year at $577 million.
Rogge said, “the (London) Olympic construction authority is looking for more funding but the latest report we had is that they would manage in finding the proper funding”.
He said the money needed to create city infrastructure for the Olympics, including building airports and roads, should be seen as an investment, not an expense. He added, “these are investments for 40, 50, 60 years to come. This leaves a big legacy to the city. The authorities (in London) will build an Olympic village. It is going to recoup itself because it is going to be sold after the Games to private citizens and customers, as we have seen in Beijing”.
He also rejected the suggestion that the Olympics have grown too big and become an extravagance for host and bidding cities. Rogge said, “people are always speaking about small Games, but without financial means and without TV rights and so on. We had Games like that and they are absolutely hypocritical”.
