Oswald: London Olympics On Schedule

The IOC''s London 2012 chief tells Around the Rings that organizers are "sticking to the schedule" as the pace of preparations steps up."Progress is going very well as far as we are concerned. We have a very good working relationship with London 2012," says Denis Oswald, head of the IOC coordination commission for the London Olympics."We are being kept informed so we can anticipate the issues and challenges when they appear," he adds.Oswald also said he was not unduly worried about budgetary issues, despite the ongoing controversy over rising costs to fund infrastructure for the Games.Speaking to ATR in London last week, he defended organizers over the financing for the 2012 Games.Oswald said people should understand there are two budgets - LOCOG''s $4 billion budget to stage the Games - financed by sponsorship and TV revenue - and the Olympic Delivery Authority''s budget to build the Olympic Park and associated infrastructure, which will be publicly financed.His comments came after a speech in which he claimed media were "scaring taxpayers" with reports of rising costs for the Games.The British government is under fire for its management of Olympic finances and its plans to divert lottery cash to plug a $1.8 billion funding gap.A report from the National Audit Office, the independent body that examines public spending on behalf of Parliament, issued on Friday, demands as "a matter of urgency" that the Treasury sets a final budget for London 2012 before costs escalate further.Olympics Minister Tessa Jowell has promised to issue a revised budget in March."For us, what is important is the LOCOG budget," said Oswald. "What the government wants to do is not directly our business. But of course we don''t want money to be wasted.""In the bid phase, it''s very difficult to decide whether the amount budgeted by government is correct or not. Let''s just wait to see what the real and final figure is."Oswald confirmed that he would be bringing up the budget issues when he talks with organizers at the next IOC project review meeting at the end of February.Reported from the U.K. by Mark BissonYour best source of news about the 2012 Olympics is www.aroundtherings.com, for subscribers only.

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