Contingency funding will only be called upon where it is absolutely necessary, as agreed by the ministerial funders’ group. Any draw-down of contingency will include a proportionate contribution of funds from each of the contributors.
The lottery’s contribution to the contingency is a matter for the Olympic Lottery Distributor. They have indicated their intention that around 20 per cent. of the £2.747 billion contingency could be met from lottery funds included in the £9.325 billion funding package, announced on 15 March 2007.
The cost of the main Olympic stadium is £496 million inclusive of VAT, allowance for inflation, some site works, and legacy conversion. No further breakdown can be provided at this point as this information is commercially confidential.
I will do so early in the new year.