Jump to content
Sign in to follow this  
Nacre

Pyeongchang requires financial assistance

Recommended Posts

It's hardly even news, but the OC says that it needs financial support from the government and IOC to deal with cost overruns.

http://www.insidethegames.biz/articles/1039010/pyeongchang-2018-organising-committee-ask-ioc-and-south-korean-government-for-more-funding-amid-ballooning-costs

Share this post


Link to post
Share on other sites

NoDrEvil.gif

You bid 3 times for this game you knew what you were getting yourself into. You even were asked by the IOC to move the bobsledding event to Japan to cut cost and you decided against it. So you should get nothing from the IOC and your government should enjoy the debt!

Share this post


Link to post
Share on other sites

It's hardly even news, but the OC says that it needs financial support from the government and IOC to deal with cost overruns.

http://www.insidethegames.biz/articles/1039010/pyeongchang-2018-organising-committee-ask-ioc-and-south-korean-government-for-more-funding-amid-ballooning-costs

Aaaaaaaand- here comes the politics!

Olympics: Pyeongchang denies $520 million funding demand

SEOUL - The South Korean organisers of the 2018 Winter Olympics said Thursday they were adjusting the event budget, but denied a report that they had already requested an additional $520 million in government funding.

1850793.jpg

The initial budget for the Winter Olympics in the South Korean ski resort of Pyeongchang was around 2.2 trillion won ($1.9 billion) but the cost is believed to have increased substantially, especially where infrastructure projects are concerned

The initial budget for the event in the South Korean ski resort of Pyeongchang was around 2.2 trillion won ($1.9 billion) but the cost is believed to have increased substantially, especially where infrastructure projects are concerned.

Pyeongchang Organising Committee (POC) spokeswoman You Jihyun said a revised budget was being prepared to reflect cost changes from the original budget which she noted was based on the host site's 2011 bid.

"Of course things have changed since then, including estimates of the infrastructure costs," You said, adding that a new fiscal plan would be finalised by mid-July at the earliest.

"Any changes will then be discussed with the government and the International Olympic Committee," she said.

On Wednesday, South Korea's largest circulation newspaper, the Chosun Ilbo, reported that the POC was seeking a further 600 billion won ($520 million) from the government.

"That is not true," You said. "No figure like that has been finalised and no such request has been made."

http://www.bangkokpost.com/news/sports/1023745/olympics-pyeongchang-denies-520-million-funding-demand

Share this post


Link to post
Share on other sites

You bid 3 times for this game you knew what you were getting yourself into. You even were asked by the IOC to move the bobsledding event to Japan to cut cost and you decided against it. So you should get nothing from the IOC and your government should enjoy the debt!

I like this one better..

8474b90e9ab9d4e892000077a85767e8792fdd67

Share this post


Link to post
Share on other sites

Well, Korean pride and everlasting feels of bitterness towards Japan makes them feel the choice of moving even a single event to their rivals as something very humilliating. So I'm not surprised at all they refused IOC request to move the event.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this  

×