Deighton confident Games will cover �200m gap
LONDON 2012 chief executive Paul Deighton believes the Games’ revenue targets will be passed but does not believe there will much surplus cash left over from running the event.
The remaining tickets left to be sold should easily cover the �200m gap to reach the revenue target, and there is also the income from sponsors and merchandise to be taken into account.
However, Deighton revealed that the cost of fitting out the Olympic venues and erecting a number of temporary arenas would eat up the majority, if not all of the Games’ income.
“We have always tried to push up revenues and keep costs down with every penny and try to bring them as closely balanced as possible,” he said.
“I am very, very confident we will hit the revenue target given the tickets we have left and the merchandise sales, we can be absolutely sure of that.
“But at this stage in the project there are always more strains on the cost side of the operation than on the revenue side.”
Meanwhile, the organisers of the Games are trying to restrict the length of the athletes’ parade at the opening ceremony to a 90-minute duration, to limit the demands on them.
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In Beijing it stretched to about two and a half hours but London organisers will severely restrict the number of officials who can take part in order to cut numbers and the time it takes.
Deighton added: “The athletes’ parade at the ceremony is what it is all about but it just can’t go on and on and on.
“We have to keep it to a sensible period because we want to make it as easy for the athletes as possible, and for as many as possible to take part.
“You have to keep it to a set number and make sure that most are athletes.”