Games Costs Rise Inexorably
The Games are 50% over budget The Herald reports and the contingency fund is already running low. From an original estimate of £373m in November 2007, the bill for Glasgow 2014 climbed to £454m in November 2009, then to £524m in May 2010, and then to £563m in December 2012, when the security budget was trebled to £90m. Now we hear that the emergency contingency fund is nearing depletion well ahead of the peak spending phase for the Games between April and September this year. Expect considerable rises before all is said and done. The Manchester Commonwealth Games 200 were 120% over budget, the Delhi Games 180% (ten times over budget), and the London Olympics went from 2.4 billion to over £11 billion. No-one can say this comes as a surprise.
£30m of Games contingency fund has already been spent
The Herald, Sunday 9th February
RISING costs at the Glasgow 2014 Commonwealth Games have forced the organisers to spend more than two-thirds of their £42 million back-up fund, raising fears about the final bill for the £563m festival of sport.