Coe denies spiralling costs
Coe denies spiralling costs
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Monday, 03, Apr 2006 09:41
London 2012 Olympic Games chairman Sebastian Coe has reacted strongly to newspaper reports claiming the event in six years time is likely to run £2 billion over budget.
Newspapers quoted the chief executive of the Olympic Delivery Authority, David Higgins, as suggesting that the 2012 Games would come in at a massively increased cost.
But Lord Coe has hit back at the reports by saying: "David Higgins did not say there was a £2bn overrun. This is not what he said and he did not mention a figure.
"We've got work going on, as one would expect, and we must work on maximising the legacy use. What David Higgins was talking about was non-Olympics costs."
Coe suggested that Higgins was referring to the side projects and other redevelopments that will take place in the Lea Valley area of east London.
The rumours of an overspend come as the FA has been forced to admit that their new national stadium, Wembley, will not be opened until 2007, almost a whole year behind its planned completion date.
Not only is the stadium months behind schedule, it is also millions of pounds over budget prompting fears that the project for London 2012 will also go over budget.