Government Releases Clearest Picture Yet of Olympic Funds

11 December 2007 (Last Updated December 11th, 2007 06:41)

The total cost for building the London 2012 Olympic venues has been released by the government with the budget, excluding the stadium, coming in at £574m. Olympics Minister Tessa Jowell says this will come out of a total Olympic Games budget of £9.3bn, £1.17bn of which will be spent on

The total cost for building the London 2012 Olympic venues has been released by the government with the budget, excluding the stadium, coming in at £574m.

Olympics Minister Tessa Jowell says this will come out of a total Olympic Games budget of £9.3bn, £1.17bn of which will be spent on venues, including the stadium.

The remaining venue allocation will be for the Aquatics Centre, Velopark, Handball Arena and the temporary Basketball Arena and Fencing Hall.

A budget of £101m has been set for non-Olympic Park venues which, according to the government, are commercially sensitive.

A budget of £830m has been allocated for bridges, highways and other structures while a half billion pound contingency has been released to the Olympic Development Agency - £100m for venues, £177m for site preparation and infrastructure and £208m for security, masterplanning and logistics.

By staff writer