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IOC requires clear budget for London 2012 Olympics(Reuters)Updated: 2007-02-09 14:37 The International Olympic Committee (IOC) has asked London 2012 Games organizers to clarify costs for their Olympic park in a bid to ease concerns over alleged spiraling costs revealed in British media. The IOC said in Lausanne on Thursday it had asked London organizing body LOCOG to prepare a breakdown of all costs involved in the regeneration of an area in the city's East End which will be the Games' main site. "We have asked when we go there (London) for a clear paper. We hope we can get it," said Gilbert Felli, IOC Executive Director for Olympic Games. The IOC is scheduled to visit London at the end of the month. "We have asked our friends in London to present this breakdown of different aspects of the Olympic park so we have a better clarity," Felli told reporters after IOC chief inspector for London Denis Oswald delivered his progress report to the Executive Board. Controversy over the financing of the 2012 Games is increasing as the budget, originally set at 2.4 billion pounds has crept up to 3.3 billion, with some media reports speculating it could spiral as high as nine billion |
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