Olympic Gold Goes To......
CLM, cost controllers for London Olympics, paid £151 million last year including a £60 million bonus, it was revealed yesterday.
The size of the fee emerged as Olympic chiefs awarded themselves generous pay rises, with three years to go until the start of the Games in 2012. Staff at the Olympic Delivery Authority (ODA) shared £30 million, including £2 million of bonuses,..By 2012, the estimated total paid to consultants will have reached nearly £680 million.
However, taxpayers may baulk at the cost, after they came to the rescue of two of the biggest venues on the Olympic Park. In May, the Government approved a further injection of £324 million into the £1 billion Village, which will house 17,500 athletes and officials during the Games, bringing public investment in the project to £650 million. The £355 million media centre had already been nationalised after private financing failed to materialise.
The latest accounts revealed that the ODA wrote off £7.5 million in design and professional fees for work on the media centre. It also bore the cost of £2.5 million in legal fees incurred on behalf of Lend Lease, the property developer that pulled out of the Village financing deal.
A further £1.1 million in design fees were written off when the site of the canoeing venue was changed.