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Vancouver 2010 Games Finding Plenty of Sponsors
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by edeepthroat | December 20, 2006 at 10:42 pm
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Finding sponsors to support the Olympics in British Columbia has not been a problem so far, said the Vancouver 2010 Winter Games organizing committee on Wednesday. A quarterly report showed that everything is on-time and on-budget with revenues already pouring in for the city and nearby Whistler resort, where the construction season has come to a close.According to the Vancouver Sun, the city has taken in revenues of $86.7 million in Canadian funds since 2003 and has spent $92.8 million toward the event. In the past year, revenues far outpaced expenses, as the committee reported $50 million in earnings compared to $16.1 million of expenditures.
Some of the venues under construction are expected to be completed early, including venues for major events, such as the University of British Columbia ice hockey arena and the Whistler Sliding Centre.
"From our prospective we feel like this has been a very, very good, a banner year. We've moved the project up the field quite a bit," said CEO John Furlong to AP.
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at 11:59 on December 24th, 2006
If you balance out the reality of the games costing between $3-5 billion this sponsorship money is a mere drop in the bucket.
The true reality of the Olympics is they NEVER make money. If you add all the extra expenditures such as the Canada Line, Freeway Expansion and all the other side projects then this adds up to a major financial burden for generations to come.
Please see the report at
http://www.nowpublic.com/2010watch_com_respond_to_vanoc_budget_report