Budget Pressures for Vancouver Olympics

(ATR) The head of the Vancouver Olympics says it is still too early to say whether the budget for construction of venues for the 2010 Winter Games will have to be increased.

Speaking at the end of a three day visit to the city by an IOC inspection team, Vancouver 2010 chief executive John Furlong says construction costs are being watched closely.

"We don't have any budget issues so far," said Furlong, expressing the hope that organizers can hold the line on a $500 million capital budget through careful design ?to make sure we?re building nothing we don?t need.?

While Furlong is optimistic on the budget target, VANOC still has revised upward its revenue forecast, seeking to raise $1.4 billion, $300 million more than first planned.

IOC Olympic Games Executive Director Gilbert Felli says the IOC is not concerned yet about the impact of rising costs, expressing confidence that organizers will still be able to fund sport legacy programs after the Games.

On the question of NHL players participating in the Olympics, IOC Commission chair Rene Fasel, who is also president of the International Ice Hockey Federation, says "it would be stupid" for Russian players to be excluded from the 2006 Olympics.

The Russian hockey federation is the only one in Europe not to agree to a new agreement covering transfer fees for Russian players going to the NHL, an agreement that also includes Olympics participation.

Fasel says talks are continuing with the Russians.

More from Vancouver, plus the week's Olympics news, in the September 9 issue of Around the Rings.Com, for subscribers only.