London 2012 Games cost five times original figure

PanARMENIAN.Net - The true cost of the Olympic Games will be at least five times the original figure given and could double again, an investigation has claimed.

The London 2012 Games will cost a staggering Ј12 billion and additional costs could see that bill double to Ј24bn - a whopping ten times the amount it was supposed to cost.

When London successfully bid for the Games seven years ago bosses proudly said the cost of the Olympics and Paralympics would be Ј2.37bn.

The original public sector package was boosted to Ј9.3bn to pay for venues and security following a review into costs in 2007.

But a probe by Sky News found that additional cash will have to be spent on extra anti-doping control officers, money for local councils for their Olympic torch relay programs and legacy schemes.

Cash will also have to be found to cover paying Tube workers not to strike, governmental operational costs, the cost of the Olympic Park Legacy Company, legal bills over the stadium tenancy decision and extra finance for UK Sport, The Sun reported.