London 2012 Olympic Games: Locog made £53m loss

Related Stories

The organisers of London 2012 made a £53m loss in the 18 month period to the end of September last year, official accounts show.

Locog said it had deferred income in excess of £70m and when it winds up the company later this year, it is confident that it will be solvent.

The final set of accounts will be published in June.

Locog's budget for the Olympics and Paralympics was about £2.4bn, raised largely from the private sector.

Ticket sales, sponsorships and merchandising are all included in the money it raised.

The accounts also show Locog directors were paid more than £2.1m over the 18 months.

Its chief executive, Paul Deighton, was paid a bonus in excess of £330,000 during the accounting period.

His total bonus while in charge of Locog has amounted to £1.34m, all of which he has given away.

Chairman Lord Coe had a salary of £535,000, the accounts show.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

BBC London

Weather

London

9 °C 2 °C

Features & Analysis

  • Dana Lone HillDana Lone Hill

    The Native American names that break Facebook rules


  • Painting from Rothschild collectionDark arts Watch

    The 50-year fight to recover paintings looted by the Nazis


  • Mukesh SinghNo remorse

    Delhi bus rapist says victim shouldn't have fought back


  • Signposts showing the US and UK flagsAn ocean apart

    How British misunderstanding of the US is growing


Elsewhere on the BBC

  • StudentsBull market

    Employers are snapping up students with this desirable degree

Programmes

  • 3D model of Christ the Redeemer statueClick Watch

    Using drones to 3D map the famous Brazilian landmark Christ the Redeemer

Try our new site and tell us what you think. Learn more
Take me there

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.