London 2012 chief happy with finances

Paul Deighton, chief executive of the London 2012 organising committee, says the Games have not suffered too much from the economic downturn.

The former investment banker puts that down to the strength of the Olympic brand and he is particularly upbeat about the Paralympics, saying they are likely to take place in front of full venues.

Deighton, previously a partner at Goldman Sachs, predicts that the 2012 Olympics will raise £100m from merchandising alone.

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