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Olympic Games 2012: Facilities

Volume 494: debated on Wednesday 17 June 2009

To ask the Minister for the Olympics what her most recent estimate is of the cost of having the Olympic grandstand in Hyde Park. (278773)

The London Organising Committee of the Olympic Games and Paralympic Games (LOCOG) has responsibility for staging the Olympic and Paralympic Games at existing venues. The direct costs associated with staging the events at existing venues come from LOCOG's revenues which are primarily derived from commercial sponsorship, broadcast rights, ticket sales and merchandising/licensing—not from the public purse.

There will be attributable costs to the public purse, for example in respect of the security and transport functions associated with the venue. However these costs have not yet been identified separately for individual venues, but they will form part of the overall security and transport budgets.