LONDON, England, February 29. WHILE most financial conversations regarding the Olympics centers on hosts blowing through budgets with regularity, London 2012 just released news that it should be more than $700 million under budget according to Inside The Games.
At this point, there is still up to $836 million of 'uncommitted contingency' still available from a grand total budget of $14.6 billion for the Olympics and the Paralympics. This should be a big boon for the host nation's government, as some of the money will likely be returned to England.
"With 150 days to go to the Games, we remain on time and within budget with more than '500 million ($790 million/'572 million) of uncommitted contingency remaining," said the Minister for Sport and the Olympics Hugh Robertson. "This puts us in a strong position and gives me increasing confidence that we can deliver the Games under budget."