Why do both the ODA and LOGOC exist because according to figures, they would each earn more than the costs?

Question

I was reading an article and the government has set up the ODA and the LOGOC for the 2012 Olympics but I can't really tell the difference on what they do but they both earn their revenues from different sources and means that if costs had have stayed at the rate they predicted, they have an extra £2.75 billion and I think that's without merchandise sales so I can't understand why they both exist when they seem to do the same job so if anyone can help that would excellent. And if anyone could give me a breakdown of the costs of the London 2012, Montreal 1976 and Beijing 2008 Olympics, I would really, really apprecite it please. Thanks for your help.

Answer 1

Along with LOCOG, the ODA has taken over the responsibilities of the London 2012 organisation. LOCOG describes the different responsibilities of the two organisations as: The ODA is building the theatre, while LOCOG is putting on the show.

The ODA has responsibility for:

* All Olympic Park infrastructure and site preparation
* Delivery of permanent competition venues
* Building the Olympic Village and the International Broadcast Centre and Main Press Centre
* The building of relocatable arenas
* Olympic transport projects
* Permanent works to existing sports venues
* Olympic Park venue legacy conversion

The LDA will continue to lead on the acquisition of land in the Olympic Park site, and TfL will continue to deliver many of the major transport projects on which London 2012 will depend.

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LONDON 2012 COSTS:

Financing

The principal item in the budget are listed below. All of these figures are estimates and they may change. Indeed in October 2006 the Culture Secretary, Tessa Jowell, announced that the ODA budget may increase from £2.375 billion to £4 billion.

On 21 November Tessa Jowell admitted the cost could rise to £3.3billion. These figures were contradicted by London Mayor Ken Livingston, who pledged the Games would make a profit, and cost less than Ms Jowell's figures.


The lists are incomplete:

Costs

* £560 million for new venues, including £250 million for the Olympic Stadium.
* £65 million for the Olympic village.
* £1.5 billion to run the Games.
* £200 million on security.

ODA Revenue

* £1.5 billion from a special Olympic National Lottery game.
* £625 million from a council tax surcharge (£20 per year on a Band D property) on London households 2006-2017
* £250 million from the London Development Agency.
* Total £2.375 billion

LOCOG Revenue

* £960 million from IOC television and marketing deals.
* £450 million from sponsorship and official suppliers.
* £780 million from ticket sales.
* £554 million from licensing.

The government will also rely on private investment.

Further expenditure, notably that on infrastructure, will be counted as outside of the Olympic budget.

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BEIJING 2008 EXPENSES (may less complete):

The Chinese government intends to invest in the renovation and construction of thirty-six gymnasiums and stadiums as well as fifty-nine training centers. Over 300,000 houses have been demolished and residents relocated thus far in Beijing due to construction in preparation for the 2008 Olympics. Police in Beijing placed many people under arrest for protesting the evictions.[2].

Its largest architectural pieces will be the Beijing National Stadium, National Gymnasium, Olympic Aquatic Park, Convention Center, Olympic Village, and Wukesong Cultural and Sports Center. US $2.1 billion (RMB¥17.4 billion) in corporate bids and tenders are expected to fund almost 85 percent of the construction budget for the six main venues. Investments are expected from corporations seeking ownership rights after the 2008 Summer Olympics. Some venues will be owned and governed by the State General Administration of Sports, which will use them after the Olympics as facilities for all future national sports teams and events.

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I am sorry I could not find any real information about the costs of the 1976 summer olympics...

Answer 2

enything to put money in there hands