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.
Jul 23, 2014, 4:12 PM EDT
Hopes to create a “robotic revolution.”
Jul 23, 2014, 1:47 PM EDT
Brazil has never won more than 17 medals at an Olympics.
Jul 23, 2014, 12:25 PM EDT
Boston, Los Angeles, San Francisco, Washington D.C. in the running.
Jul 23, 2014, 12:02 PM EDT
LOCOG acknowledges U.S. firm submitted designs that ended up being part of the cauldron.
Jul 23, 2014, 10:05 AM EDT
New coach won two Stanley Cups in the 1990s.
Jul 23, 2014, 9:46 AM EDT
Fashion star also created Team GB kits for London 2012.
Jul 23, 2014, 9:10 AM EDT
Opening bid much higher than final price for another Olympic basketball medal.
Jul 22, 2014, 5:21 PM EDT
“It is sending a bad message,” Bolt said.
Jul 22, 2014, 4:58 PM EDT
Amarissa, 13, is a former gymnast who suffers from lupus.
Jul 22, 2014, 2:24 PM EDT
Blake recently had hamstring surgery.
Jul 22, 2014, 12:24 PM EDT
Olympic champion finished his season in Shanghai last week.
Jul 22, 2014, 10:35 AM EDT
Top sprinters from Jamaica, swimmers from Australia and more gather in Glasgow.
Jul 21, 2014, 6:09 PM EDT
U.S. stars would not make the Olympic field if it was determined today.
Jul 21, 2014, 3:13 PM EDT
NCAA’s current lawsuits may cut funding.
Jul 21, 2014, 2:11 PM EDT
“It’s inconceivable,” Maarten de Jonge said.
Jul 21, 2014, 12:51 PM EDT
NCAA Player of the Year was tournament MVP.
Jul 21, 2014, 10:43 AM EDT
Extraordinary men include war veterans, longtime NASA worker, Methodist minister.
Jul 21, 2014, 8:33 AM EDT
Kim Jin-sun had been the committee’s president since October 2011.
Jul 18, 2014, 4:15 PM EDT
U.S. sprinters shatter personal bests.
Jul 18, 2014, 3:09 PM EDT
U.S. Olympic flag bearer returned to the podium after missing medals at 2012 Olympics, 2013 Worlds.
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