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 2, 2014, 11:11 AM EDT
Olympic champ figure skater yet to make official decision, but shows which way he is leaning.
Sep 2, 2014, 10:57 AM EDT
Would he rather race fast cars or cheetahs?
Sep 2, 2014, 7:41 AM EDT
Schild won silver behind Shiffrin in Sochi and is one of her idols.
Sep 1, 2014, 2:37 PM EDT
Lewis joins staff with two other Olympic sprint medalists.
Sep 1, 2014, 1:09 PM EDT
Germany is the latest rival to a potential U.S. Olympic bid in 2024.
Sep 1, 2014, 11:27 AM EDT
Seven from Nigeria, two from Sierra Leone out due to Uzbekistan’s restrictions.
Sep 1, 2014, 10:44 AM EDT
Olympic silver medalist swam three days after suffering allergic reaction to jellyfish sting.
Aug 30, 2014, 5:27 PM EDT
American overcame a 69-second deficit, passing 19 women on the 10km run to cap dominating season.
Aug 29, 2014, 4:59 PM EDT
Olympic champion cites “medical reasons” hours before weigh-in.
Aug 29, 2014, 1:44 PM EDT
Statistically, the U.S. might be better off not winning in Spain in the Olympic scope.
Aug 29, 2014, 12:36 PM EDT
Olympic champion missed 2013 Worlds after knee surgery.
Aug 29, 2014, 9:00 AM EDT
An accountant five years ago, triathlete is dominating after Olympic disappointment.
Aug 28, 2014, 4:56 PM EDT
Allyson Felix, David Rudisha beaten in first of two Diamond League finals meets.
Aug 28, 2014, 1:33 PM EDT
Steen and Peder Mondrup completed the Ironman Copenhagen in 15 hours.
Aug 28, 2014, 11:12 AM EDT
Olympic Flag handed over to Buenos Aires, host of 2018 Youth Olympics.
Aug 28, 2014, 10:37 AM EDT
Officials looking for 70,000 people over the Olympics and Paralympics.
Aug 27, 2014, 4:44 PM EDT
Chinese basketball star also updates on what he’s been doing in retirement.
Aug 27, 2014, 2:44 PM EDT
IOC president sits down with Lewis Johnson at Youth Olympics.
Aug 27, 2014, 1:52 PM EDT
How can we apply the results looking ahead to the Rio Olympics?
Aug 27, 2014, 12:17 PM EDT
Diamond Races up for grabs, plus Gay vs. Powell in the 100m.
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