Prague Injects More Cash Into 2016 Bid
Prague City Hall has donated another 30 million crowns to Praha Olympijska (Olympic Prague), for the Prague 2016 Summer Olympic Games bid, said city hall member Martin Langmajer Wednesday.
He said it was a formal transfer of money and the budget had been approved earlier. The city has already donated 15 million crowns to the foundation of a joint company with the Czech Olympic Committee (COV), the Czech news agency CTK said.
Langmajer said, “if we want the Olympics it is certainly good to set aside the money”.
Praha Olympijska’s budget for this year includes 12 million crowns for various studies and 19 million crowns on advertisement, campaigns and opinion polls.
A 2004 study shows the Prague 2016 Olympics would cost about 136 billion crowns and make a profit of 25 billion crowns.
The country would also have to invest another 490 billion crowns in infrastructure. Write or read comments about this article
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