Online sports blog breaks down Olympic cost to reveal £650 Million performance bonus payments despite the building programme having a year's contingency

Share Article

Most Olympic projects were finished a year in advance yet an astonishing £650 Million of bonuses were paid to contractors on a very generous schedule. Online sports blog bonusbetting.org.uk release's infographic breaking down full cost details.

olympic torch
but money was no object, many people could retire on a bonus pool of £650 million and probably did

The 9.3 Billion estimated costs was not the final figure, but it was close and far more than the 2-3 Billion when the public were first informed of the Olympic project by the then labour government. Figures released by National Audit Office reveals an astonishing performance bonus payments totalling £650 Million paid to contractors despite a building programme schedule so generous most projects were finished twelve months ahead of the Olympic games start date. The writers over at bonusbetting.org.uk have produced a Olympic infographic breaking down the entire costs involved in putting on one of the most expensive Olympics in history.

Over the last few years there have been a considerable number of arguments and criticisms regarding the way in which the run up to the British hosted Olympics was handled, the games turned out to be a success. Britain may be in a double dip recession, but what a year this has been so far. In June people all over the UK watched and celebrated the diamond jubilee of Queen Elizabeth the second whilst preparing for the first Olympic Games to be held in this country since 1948. This summer’s Olympic Games have been called the golden Olympics not just for the number of gold medals awarded to British athletes, but also for the atmosphere of general bonhomie that pervaded the games.

Despite the issues with tickets and various arguments surrounding how the organisation and security measures for the games were organised, the Olympics proceeded much better than anyone could possibly have imagined – even the weather was fairly reliable for a British summer. There were some criticisms of the ways in which sponsorship was handled, with more than a few people objecting to the amount of publicity given to the size of the MacDonald’s outlet. From the time the games opened, critics were forced to admit that things actually went far better than any of them could have predicted. The value for money argument was suspended, but is set to reappear with the revalation that the elite athlete funding hit £264 Million (in addition to the 9 Billion), 65 medals works out at £4 million each. The hockey medal was the most expensive at £15 Million alone.

Britain enjoyed its largest overall medal haul this year since 1908, in spite of the fact that it was awarded less gold than in that year. However, the 29 gold medals that were awarded to British athletes gave the host nation more than its fair share, based on the number of gold medals available, and the total amount of athletes from all nations at the games, among other things. The performance of British athletes at the summer games of 2012 made this country the sixth best host nation’s performance in all 27 of the summer games. There is no doubt that some significant lottery investment in sport throughout the last decade, has meant that athletes have had better training, better choices, and a greater chance of success.

Before the games actually started there was a lot of speculation about whether the country could get through those weeks without a serious incident. Given the riots and looting of last summer, there was certainly some basis for these concerns. Newspapers and television news reports were full of the news that the security firm G4 had failed to deliver on its promise regarding the number of trained security staff that might be needed. The government was forced to call in the armed forces to ensure that security was as tight as possible during the games. There was considerable carping about whether the whole thing was worth the considerable amount of tax payers’ money that had been poured into the games.

Long before the games were over all the naysayers were forced to admit that Britain had put on a great show, the opening night of the games was watched by millions of people in many nations. The opening show was typical of British idiosyncrasy and both the press and the public deemed the opening a resounding success. The final night of the games was also heralded as an impressive and memorable event, made even more impressive by the fact that Britain had come third out of the scores of nations involved in this year’s games – only China and America had more medals than the Brits had on their home turf.

In spite of various concerns that the cost of the Olympic park was too high, it was actually finished ahead of the scheduled time thanks primary to a generous schedule and that bonus amazing performance bonus payout totalling £650 Million. Even though there had been threats of disruption during the games by transport workers, these did not happen and everything ran far better than was expected. Long before the games were finished the press was praising the efforts that a vast number of volunteer helpers had put into making the Olympics a resounding success. Visitors from abroad were full of admiration for the way that the games preceded as well as the good manners and congeniality of the British people.

The ways in which things were handled scorned all the pre-game arguments regarding sponsorship, using the Olympic icon, and security personnel, all faded away in the face of such success. Some reporters say that it’s widely recognised that this has been the best organised games in the history of the Olympics, and even outshone the much praised 2000 Sydney games. Clearly well organised, but money was no object, many people could retire on a bonus pool of £650 million and probably did.

Many groups were worried about the cost of the games and how they could be justified. The fact is that most of the buildings erected for the games were nothing short of superb and will be at the disposal of the athletes of tomorrow. Both the buildings and the way things were handled have meant that the Olympic Games have in fairness made a considerable contribution to the regeneration of Stratford. Whether the general economy will receive much of a boost from this still remains to be seen.

What stood out most during the games, and which most news reports have highlighted, is the legacy of the unity of the British people. Many older individuals commented that the spirit of the Blitz is still alive and well in Britain. The nation pulled together and there were tributes and celebrations across the land drawing people together.

The sense of community invoked by the atmosphere that surrounded both the Queen’s Jubilee celebrations and the Olympic Games, has given a significant boost to the nation and a greater sense of what it actually means to be British. If nothing more than this unity and sense of community had evolved from the games, then the cost and the worries were worth it. The largest global audience for any Olympics has witnessed people with a regained pride in their national identity. Previous newspaper reports of a broken Britain have been overturned by the Canadian journalist’s response that Britain and the unity of its people have never looked better.

If you want to read more about the games or plenty more sports events visit bonusbetting.org.uk

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Liam Riordan
liam285@gmail.com
07989 476 973
Email >
Visit website