• London Olympics 2012

Olympics funding row settled

ESPN staff
April 19, 2011
An aerial view of the Velodrome for the 2012 Olympics © Getty Images
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The financial cloud hanging over the London 2012 Olympics has cleared, with a settlement between the British Olympic Association and London 2012 organisers being agreed on Monday evening.

The BOA had taken London 2012 (Locog) to the Court of Arbitration for Sport over how any financial surplus from the Games would be calculated and divided. The row was over the amount of money the BOA would receive from London 2012. The BOA wanted its 20% share based on Olympic income only, but Locog insisted the Olympics and Paralympics were a joint event.

The IOC and the government took a dim view of the wrangle and talks resumed recently, prompting the BOA to suspend legal action, and a deal was thrashed out on Monday evening.

The terms of the settlement have not been divulged, but it is believed that the BOA has accepted calculations will be made on the basis of the Olympics and Paralympics combined.

© ESPN Sports Media Ltd.
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