International Olympic Committee President Jacques Rogge tried to ease Beijing's money worries yesterday, saying that hosting the Games will benefit the country.
He asked the city to separate its general development budget from the actual Olympic operational budget, which he believes will be balanced or even profitable due to partial coverage from the International Olympic Committee (IOC).
"We have no advice to give on the investment budget for the city, this is the responsibility for the city, for China to decide," said Rogge yesterday at a news conference in Beijing.
Earlier yesterday, Rogge met with President Hu Jintao to discuss the Beijing Games.
"All of our advice will be on the operational budget which we are working out with the organizing committee and we hope it will be balanced or in profit," he said.
The IOC boss, who took over the post from Juan Antonio Samaranch in 2001, said the IOC will pay 60 percent of the operational budget while another 40 percent will be met by local sponsorships and ticket sales. The combination is likely to leave a profit for Olympic organizers.
"Since the Los Angeles Olympic Games in 1984, this budget always delivers a profit and this profit is distributed to the national Olympic committee of the host country and to the city for the investment in sports."
He pointed to the Athens Games as an example, saying that the IOC is almost certain it will be balanced or profitable, although their financial reports are yet to be published.
Regarding investment and venue construction budget, Rogge said it is going to lift the city and leave an Olympic legacy.
"That is the reason why we have so many countries after Beijing [bidding for the Olympic Games]," said Rogge. "There will be no frugal Games, there will be only good Games."
An IOC delegation arrived in Beijing last week and toured Olympic facility sites. "We are confident. We are vigilant. We support the organizing committee and we are happy. No concerns whatsoever," Rogge said. "We are now halfway through Beijing's preparation time and this is always a very crucial period. It is a period where you have to move from pure planning to the operational mode."
(China Daily November 2, 2004)
