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

Min. Night 17 °C

Features & Analysis

  • Man holding lipWitch hunt

    The country where a writer accused of blasphemy must run


  • Espresso cupNews quiz

    Which city serves the strongest cup of coffee?


  • Lauren Arrington holding up a fishSomething's fishy

    Scientist claims 'child prodigy' getting credit for his discovery


  • A woman's stomach with the words "I love IDF"'War porn'?

    Support - and disdain - for women posting sexy selfies for the IDF


Elsewhere on the BBC

  • CastleRoyal real estate

    No longer reserved for kings and queens, some find living in a castle simply divine

Programmes

  • Leader of Hamas Khaled MeshaalHARDtalk Watch

    BBC exclusive: Hamas leader on the eagerness to end bloodshed in Gaza

BBC © 2014 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.