BOA in bitter row over London 2012 profits
Thursday 10 March 2011
An astonishing row over money has broken out between London 2012 organisers (LOCOG) and the British Olympic Association. The dispute has escalated to the point where London 2012 chiefs yesterday launched an attack on the BOA leadership, claiming it was abandoning the original vision of staging the Olympic and Paralympics as "one festival of sport".
The IOC will now rule on the row, which centres on the cut the BOA would receive from any surplus cash from the Games. The BOA is due to receive 20 per cent, but claims the cost of staging the Paralympics should not be taken into account when calculating the surplus.
Although the BOA has already secured an extra £6m on top of the original £27.6m, it now has its eyes on any surplus. LOCOG, whose initial target is just to break even on the cost of staging the Games, said: "It is sad that this vision is now disputed by the new leadership [chairman Lord Moynihan and chief executive Andy Hunt] of the BOA."
A BOA statement read: "This is about protecting the future for athletes, for sport and for our national governing bodies."
Robin van Persie: Manchester United may have more joy if striker is dropped by David Moyes
Chris Powell sacked: Charlton confirm manager fired despite being in talks to sign new contract
Why does Manuel Pellegrini keep picking Martin Demichelis for Manchester City?
England 29 Wales 18 player ratings: Who was the star man at Twickenham?
Bayern Munich v Arsenal: Arsene Wenger pleads for 'fair chance' from referee as Arsenal look to turn around Champions League deficit
- 1 Pakistan vs Paul Smith: Sandal-wearers bemused by famed British designer's attempts to sell traditional Peshawari chappal-style shoes for the distinctly untraditional sum of £300
- 2 Family forced to flee home after discovering nest of potentially deadly spiders in bananas
- 3 Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
- 4 Russell Crowe's Noah banned in three Arab countries before worldwide premiere
- 5 Bob Crow death: 'Admired by his members, feared by employers' - Tributes pour in for RMT union leader and 'working class hero' Bob Crow
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
Exclusive: Impact of immigrants on British workers ‘negligible’
Vince Cable: Teachers 'know absolutely nothing' about the world of work
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
The quiet diplomat: Catherine Ashton - recognised and admired in all the world’s troubled countries, yet ridiculed at home