![london olympic village london olympic village](https://i2-prod.mylondon.news/incoming/article20418226.ece/ALTERNATES/s615/1_IMG_0664-1.jpg)
![london olympic village london olympic village](https://i2-prod.mylondon.news/incoming/article13227370.ece/ALTERNATES/s615/2_London-2012-Olympic-Paralympic-Games-Park.jpg)
The Greater London Authority contributes £925 million to the Olympic Delivery Authority for the regeneration, infrastructure and facilities for use by present and future Londoners.Ĭould two weeks of sporting events, even the Olympics, justify all these costs? These investments are not only intended to host the Olympics successfully, but revitalize sections of host city London. The UK government is represented through the Department for Culture, Media and Sport, which manages central government funding of the Games and wider regeneration costs. National Lottery funds (£2.2 billion of them) also helped construct facilities hosting the Games. The London 2012 Olympics, for example, are funded by a number of sources, according to its official website: the London Organising Committee of the Olympic Games and Paralympic Games Limited, a private company with a core budget of over £2 billion, was in charge of the planning, funding, preparation and staging of the London 2012 Games.įrom the public sector, the Olympic Delivery Authority-funded by the Department for Culture, Media and Sport, the Greater London Authority, and the Olympic Lottery Distributor-was charged with developing and building the new infrastructures and venues, as well as their post-Games use. For an event of this magnitude and cost, inevitably all resources must be drawn upon. Photo: Official London 2012 websiteīut today’s Olympics are notable for another type of collaboration-between the public and private sectors.