Oct 23, 2012, 1:45 PM EST
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.
Jan 29, 2015, 3:41 PM EST
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Jan 29, 2015, 3:37 PM EST
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Jan 29, 2015, 9:32 AM EST
The relay will start in May 2016.
Jan 28, 2015, 3:23 PM EST
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Jan 28, 2015, 2:02 PM EST
An Olympic legend helped convince him to come back, possibly for the 2018 Olympics.
Jan 27, 2015, 4:14 PM EST
Bowie may try to make the World Championships team in three individual events.
Jan 27, 2015, 2:37 PM EST
Once Usain Bolt’s top rival, the Jamaican is returning from a second major injury in as many years.
Jan 26, 2015, 2:41 PM EST
Armstrong touched on many topics in a BBC interview.
Jan 26, 2015, 10:58 AM EST
Could Hingis return to Olympic tennis, 20 years after her only Olympic appearance?
Jan 26, 2015, 8:41 AM EST
Park’s management agency cited “an illegal injection administered by a local doctor.”
Jan 25, 2015, 9:48 PM EST
Brown is the youngest U.S. men’s champion since 2004.
Jan 25, 2015, 7:35 PM EST
Instead, past Winter X Games champions prevailed in Aspen.
Jan 25, 2015, 3:00 PM EST
Jason Brown tries to become the youngest U.S. men’s champion since 2004.
Jan 25, 2015, 2:00 PM EST
An inside look at the skier’s comeback from two major knee surgeries.
Jan 25, 2015, 7:36 AM EST
Vonn captured victory No. 64 in St. Moritz, Switzerland.
Jan 24, 2015, 11:50 PM EST
Wagner becomes the oldest women’s champion since Michelle Kwan.
Jan 24, 2015, 9:15 PM EST
Kim outdueled the greatest snowboarder of all time.
Jan 24, 2015, 7:00 PM EST
Gracie Gold wants to deny history for Ashley Wagner.
Jan 24, 2015, 2:00 PM EST
Pairs free skate and free dance national titles to be awarded.
Jan 24, 2015, 6:23 AM EST
Vonn missed an opportunity to all but clinch the World Cup season downhill title.
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