Where did all of the Olympic funds go to?

We are all wondering what all of that money was spent on! Below I am going to use data taken from the guardian to show this:

The attached pie chart attached to the left of this post, shows all the different categories of expenditure.



A total of £2.537 billion pounds was spent of 'non - ODA public funding'. This big amount of money was spent on the following:

• Park Security
• Elite and Community sports
• Police, army and security services
• Legacy - Park Transformation.

This was a big part of the expenditure due to the problem which we had two weeks prior to the Olympics when we had to deal with the shortage of security.

"The military is already plugging the gap left by G4S with 3,500 troops after the security firm admitted two weeks ago it could not provide its 10,400 contracted guards." This is a quote written by Chris Parsons on the 24th July 2012. Link: http://www.dailymail.co.uk/news/article-2178175/London-2012-Olympics-1-200-extra-troops-called-G4S-security-fiasco.html

"Running the events and other costs" spent a total of £1.864 billion pounds. The guardian where I was able to get the information from, does not specify what stuff is included in this category. This could probably include advertising and staff costs.

A total of £1.822 billion pounds was spent on "Site preparation and infastructure". Included in this category of expenditure are:

• Powelines
• Utilities
• Enabling works
• F10 Bridge
• Other structures, bridges and highways
• South Park site preparation
• Prescott Lock
• Landscaping

Designed by internationally acclaimed architect Zaha Hadid,
the breathtaking Aquatics Centre is one of the
permanent venues specially constructed for London 2012

Venues cost a total of £1.106 billion to build and set up. These venues included: Stadium, Aquatics, Velopark, Handball, Basketball, Other Olympic Park Venues and Non Olympic Park Venues.

To the right of this post is a photo of the Aquatics Centre which £0.251 billion pounds to build.

The Olympic and Paralympic Village cost a toal of £0.935 billion pounds. This included the Contingency Fund, programmer deliver, interest and tax.

A total of £0.896 billion pounds went to other Olympic Park projects such as parkwide operations, insurance, logistics for site construction, security for park construction, section 106 and masterplanning security screening, operational areas and other parkwide projects.

Tansport cost a total of £0.894 this included the DLR, Thorntons Field, Stratford Regional Station and the North London Line.

Other funds went to the international broadcast centre and main press centre (£0.295bn), total cost of the Paralympic Games (£0.19bn) and other funding from government to go to LOCOG (£0.183bn).



Sponsors and Partners of the 2012 Olympics

Prior to the Olympics there were a lot of different views coming from different countries who were competing in the Olympics about the companies which became huge sponsors to the Olympics.

The piece of footage to the right of the page is from a 'Russia Today' which was taken from 'Youtube'. The footage looks at the sponsors bad reputation which they have had in the past.

The majority of the examples which this broadcaster uses have given themselves a bad reputation from a situation or event which happened a few years prior to the games. For example BP was one of the London 2012 Olympic partners, however BP was the cause of the major oil spill in the Gulf of Mexico on April 20th 2010. However companies like BP which can then use an event as big as this to grow back a good reputation again as "commercial sponsorship works to impact consumer audiences!"

One of Walt Disney's most famous quotes: "We keep moving forward, opening new doors, and doing new things, because we're curious and curiosity keeps leading us down new paths". Although this quote initially is used to show what Disney does to overcome problems in their own company. We can relate this to many other scenarios such as the BP incident because companies don't have time to dwell on the past, they should concentrate on whats happening at the present and in the future, however they should still use the incident as a good lesson so they prevent it from happening again.

There were lots of opinions about whether or not McDonald's being one of the major sponsors. This is mainly due to the growing rate of obesity. McDonald's has always been a company which has supported many sporting events, they also support lots of small communities football teams. Should you stop them from sponsoring them too? Below is what McDonald's can do to help your local football team.

Taken from http://www.mcdonalds.co.uk/ukhome/Sport/Football/Investment/small-grant.html

Examples of things McDonald’s will support include, but are not limited to:- Club facilities, grounds-keeping tools, training courses, pitch hire, mini-vans and washing machines; whatever your club and team could significantly benefit from. 

Just because McDonald's is supporting a major event doesn't mean you have to go and eat in their restaurant! Out of all of the major fast food chains, McDonald's is probably the only fast food chain which offers healthy food as an option rather than an unhealthy big mac. They sell fruit bags, carrot bags, side salads to accompany a meal, a range of salad meals and lastly their 'Deli' option gives a range of low calorie wraps such as the grilled chicken wrap. If you eat at McDonald's, there is an option for you if you would like to have a healthy lunch.

I believe that without the sponsors and partnerships which London was able to get, London 2012 wouldn't have been as great as it was!

Questionnaire

I have decided to make a questionnaire to find out peoples thoughts and opinions on the London Olympics. I hope to then use this data to help analyse each point which I wish to make on this blog.

Link:
https://docs.google.com/spreadsheet/viewform?formkey=dEc1MGU5NThLNGNVOUhLTklFRV9LNHc6MQ#gid=0

Where did all of the funds for the Olympics come from?

The Olympic Stadium, London, Stratford. It cost £486 million to construct.

When all of the planning for the London Olympics was getting carried out, we were all wondering where all of the money was coming from. Was it coming from tax payers? sponsors?government?. I can now confirm where the funds came from. I used different sources to construct a couple of diagrams to explain exactly where all of the money came from. For the Olympics the committee was able to raise a total of £11.298 billion according to the guardian.

Above is a pie chart I made of where the funds were coming from. A total of £9.298 billion came from public sector funding. This is up of £6.248 billion coming from the central government, £2.175 billion coming from the National Lottery, £0.875 billion came from London (GLA & LDA) and lastly £0.004 billion coming from Sport England.

A total of £0.7 billion came from the International Olympic Committee where 50% of it came from TV broadcasting rights and the other 50% came from world wide sponsorship. 

Ticket sales raised a total of £0.6 billion towards the Olympic fund. 

Lastly £0.7 billion came from sponsorship with all of the brands being brands that we all know very well. Below is the full list of them. Each committing very different sums of money. 

Adidas, BP, BMW, BT, British Airways, EDF, Lloyds TSB, Cadbury, Cisco, Adecco, Deloitte, Thomas Cook, Arcelor Mitel,UPS, Cisco, Westfield, Thames Water, Ticket master, Trebor, Mature Valley, Next, Holiday Inn, John Lewis, G4S, Eurostar, Glaxo SmithKline, Heineken UK, Heathrow Airport, Rio Tinto, Rapiscan Systems, Populous, McCann worldgroup, CBS outdoor, The Boston Consulting Group, Airwave and Atkins. 

About me

My name is Lucy Drew and I am 19 years old. I come from Fleet in Hampshire. I am currently studying accounting and financial information systems at the University of Greenwich.

For one of my subjects I need to make a blog about a big event or a big piece of news which has happened this past year. I have chosen to do my blog about the London Olympics. This was a major event and I feel that I have a lot of knowledge about it. I want to then deliver that information to create a critical analysis using other sources to back up my ideas. The main points which I want to concentrate on are: What did we learn at the Olympics? and How much money did the Olympics cost?

If you have any questions or if you would like to reach out to me, my email address is ldrew1993@gmail.com.