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Originally Posted by GeeCee
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BTW...$1.2-billion is coming from domestic and international sponsorships as well as tv rights. Another $500-million is coming from things including ticketing, merchandising, and royalties. Add all of that up: private revenues are paying for nearly all of VANOC's $1.7-billion operational costs.
There's a reason why these Games are profit driven: so that taxpayers aren't on the hook for a VANOC deficit: VANOC tries to reduce the deficit risk, people complain; VANOC is profit driven, people complain; VANOC goes into deficit, people complain.
Also in the list: VANOC builds crappy programming and venues, people complain; VANOC spends more for higher quality programming and venues, people complain.
Much of VANOC's [successful] methods comes from learning the failures of Torino, Athens, and Sydney. We gained record sponsorships (lesson learned from Torino), we built our venues way ahead of schedule to the point they were a Olympic record (lesson learned from Athens) which also meant construction prices were controlled, and the organizing committee has been very stable (unlike previous OCOG's) and has substantially retained its workforce (a lesson learned from Sydney).
If it weren't for the recession, this would no doubt be the most successful Olympics ever...and even with the recession, we're still doing pretty good.