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Beijing 2008: Foundations Laid For Success

Olympic Games Beijing 2008 - Beijing 2008: Foundations Laid For Success
BEIJING, CHINA-(2-6-2005) Following three days of positive meetings, the IOC’s Coordination Commission successfully concluded its fourth visit to the host city of the 2008 Olympic and Paralympic Games.

As well as visiting the sites of some of the future Olympic and Paralympic venues, Commission members also discussed subjects such as budget, transport, sport, communications and marketing. The Coordination Commission represents stakeholders from the whole Olympic Family: its work includes observing and advising on the progress of the Beijing Organising Committee for the Games of the XXIX Olympiad (BOCOG).

“The foundations are being laid for success here, building on solid finances, sound construction and the basis of a very effective organisation,” said Coordination Commission Chairman Hein Verbruggen. “BOCOG presented its budget to us this week, and it will cover Olympic Games operations. The operational costs of the Olympic Games should not be confused with infrastructure investments that will continue to serve Beijing long after the Games have gone.”

“BOCOG’s budget will be met by the IOC’s contribution from the sales of broadcast rights and international sponsorship and also by BOCOG’s efforts in finding commercial partners and selling tickets,” said Verbruggen. “We congratulate BOCOG on the continued success of its marketing programme.”

“BOCOG’s budget projections show expenditures unlikely to exceed those in the financial statement recently published by ATHOC for the Athens 2004 Olympic Games. With operational expenditures now levelling out from Games to Games, we are starting to see the success of the IOC’s Olympic Games Study Commission measures to stop the cost and complexity of the Games from growing,” said Verbruggen.

Since the election of Beijing as host city in 2001, the IOC Coordination Commission has visited annually. In 2005 and until the Beijing 2008 Olympic and Paralympic Games, visits will take place twice each year, with the next meeting planned for November 2005, during which the Commission plans to visit the sailing venue in Qingdao. Smaller working group meetings take place on a more regular basis, and the IOC and BOCOG are in constant contact.

The expenditures caption for the ATHENS 2004 final financial statement was 1,967 million euros. The ATHENS 2004 Olympic Games produced a financial surplus of 7 million euros.

Source: IOC Press release

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