Oct 23, 2012, 1:45 PM EDT
Beijing organizers essentially shouted Chinese culture at their worldwide audience in 2008, spending $67 billion on the Olympics while presumably using “we’re gonna need a bigger boat” as the punch line of every meeting they held leading up to the Games.
On the other hand, London, seemingly content not competing against Beijing’s incredible spectacle, aimed to only spend about $15 billion – or less than a quarter of what the previous Olympics cost.
Somehow they still came in under budget.
“The work of the construction and delivery teams, from the ODA and LOCOG, has set a very high standard,” said sports minister Hugh Robertson of the somewhat abnormal surplus. “I have no doubt that London 2012 has set a new benchmark for the management of Olympic and Paralympic Games in future.”
LOCOG ended up with about $603 million left over when all was said and done, which is great news for the London Legacy Development Corporation since it plans to spend $467 million of that on redeveloping the now four month old Queen Elizabeth Olympic Park in east London.
The update to what will essentially be a U.K. sports version of Disneyland will keep the aquatics, cycling, basketball, and handball venues intact, and will also include 2,818 new houses and apartments in five neighborhoods, as well as three schools, three health centers, nine nurseries, and a library.
Sep 19, 2014, 2:31 PM EDT
Spearmon lost a 2008 Olympic medal due to disqualification and finished fourth in the 2012 Olympic 200m.
Sep 19, 2014, 10:21 AM EDT
Komova won Olympic all-around silver behind Gabby Douglas.
Sep 19, 2014, 8:49 AM EDT
There was concern Olympic host nation wouldn’t be able to qualify in hockey.
Sep 19, 2014, 8:02 AM EDT
Olympic medalist skater could be called in for later hearing.
Sep 18, 2014, 4:50 PM EDT
Three-time Olympian rides into retirement by entering history books.
Sep 18, 2014, 3:06 PM EDT
Work expected to finish in the first half of 2016.
Sep 18, 2014, 1:39 PM EDT
NBC Olympics analyst hands out athlete of the year honors and more.
Sep 18, 2014, 9:30 AM EDT
Russian Olympic champion gave birth to daughter in June.
Sep 18, 2014, 9:00 AM EDT
Can U.S. win second straight team title despite injuries, absences?
Sep 17, 2014, 3:38 PM EDT
Canadian from memorable 2002 Olympic pairs competition to coach NHL players.
Sep 17, 2014, 2:13 PM EDT
Olympic halfpipe champion is focused on two competitions this season.
Sep 17, 2014, 10:54 AM EDT
Curling is the first Winter Olympic sport to have a sculpture in the Olympic Museum park.
Sep 17, 2014, 10:38 AM EDT
World record holder, now 40, could enter two more major marathons.
Sep 17, 2014, 10:04 AM EDT
Two-time Olympic champion runs five or six times per week.
Sep 17, 2014, 9:30 AM EDT
Two-time Olympic halfpipe champion “more poised” for slopestyle success in 2018.
Sep 17, 2014, 8:41 AM EDT
Jones posted she had “flashbacks of the three Olympics and that people constantly tease me about.”
Sep 16, 2014, 4:10 PM EDT
More than 7.5 million tickets will be available for the Games.
Sep 16, 2014, 11:57 AM EDT
German star suffered torn ACL.
Sep 16, 2014, 11:35 AM EDT
Shuko Uchimura hadn’t competed in some 30 years, according to Japanese report.
Sep 16, 2014, 9:39 AM EDT
Olympic 200m free champion going back to France.
- Wallace Spearmon fails drug test, banned 3 months 0
- Ato Boldon’s track and field season awards 1
- Analyzing the U.S. gymnastics women’s World Championships team 0
- Shaun White ‘more motivated’ to compete than before Sochi 0
- Lolo Jones eliminated from ‘Dancing with the Stars’ 6
- Usain Bolt, Michael Phelps hope to meet for first time before Olympic farewell 0
- What U.S.’ FIBA World Cup title means for Olympics 0
- Emotional Bode Miller medals in race that mattered most (61)
- Russian women kissing after relay victory at World Championships causes stir (57)
- IOC drops wrestling from 2020 Olympics (47)
- South Korea filing official complaint over Yuna Kim’s Olympic silver (39)
- Zola Budd, 47, dominates college runners in 5K (33)