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Archives for May 2009

Betting the house on the Athletes' Village

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Adrian Warner | 16:50 UK time, Thursday, 14 May 2009

If you want to see how the economic downturn is affecting the 2012 Olympics, look no further than the athletes' village in east London.

The £1 billion project for 2,800 apartments was supposed to be completely privately-funded. Now the Government has announced that the village has been nationalised because it has been impossible to raise the cash from the private sector.

Does this matter?

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Recession woes for Vancouver

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Adrian Warner | 10:07 UK time, Friday, 8 May 2009

I've just returned from Vancouver which is only nine months away from hosting the Winter Olympics.

Usually so close to the Games, the debate about the huge amounts of money being spent on the event is replaced by the excitement of the party coming to town.

But not in Canada in the middle of a global recession.

John Furlong, the head of the organising committee (VANOC), admitted to me that he has to think about the budget virtually "every hour" now. VANOC are having to find ways of making savings.

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